CAC 40 Hits All-time High

(RTTNews) - Strong corporate results helped the CAC 40 benchmark that tracks the 40 largest French stocks based on the Euronext Paris rise to an all-time high. The earnings boost eclipsed recent fears of an AI-led disruption in the tech space.

The CAC 40 benchmark is currently trading at 8,382.67, adding 0.84 percent from the previous close of 8,313.24. The day's trading has been between 8,355.30 and 8,437.35. Amidst the positive sentiment, only 11 scrips in the 40-stock index are trading below the flatline.

Legrand topped gains with an addition of 6.3 percent amidst strong financial results. Michelin as well as EssilorLuxottica followed with gains of more than 5 percent. Stellantis also gained 3.1 percent.

Sanofi plunged more than 6 percent while Engie declined 2.7 percent.

Aligning with the weak global trend, bond yields in France too have declined. Yields on France's 10-year bonds dropped 0.15 percent to 3.379 percent, versus the level of 3.383 percent at the previous close. Yields ranged between 3.396 percent and 3.370 percent.

The dollar traded weak despite higher-than-expected payroll additions as well as lower-than-expected unemployment rate in the U.S. While the six-currency Dollar Index edged down 0.01 percent to 96.83, the EUR/USD pair has gained 0.08 percent to 1.1880. The pair ranged between 1.1888 and 1.1852. The EUR/GBP pair is trading at 0.8709, slipping 0.02 percent from the flatline. The EUR/JPY pair has gained 0.05 percent to trade at 182.05.