The CAC 40 rose 0.5% to a record 8,290 on Friday, extending gains from the previous session, driven by strong performances in luxury stocks and a positive catalyst from BNP Paribas. French beauty and luxury giant L’Oréal announced the acquisition of Kering’s cosmetics business, valued at around €4 billion. The deal, the largest in L’Oréal’s recent series of luxury brand expansions, is expected to close in the first half of 2026. The announcement lifted luxury shares, with L’Oréal +4.0%, LVMH +1.5%, Hermès +2.2%, and Kering +2.4%. Meanwhile, BNP Paribas jumped 3.1% after UBS upgraded the stock from ‘Neutral’ to ‘Buy’, raising its 12-month price target. Other notable gainers included Saint-Gobain +2.8%, Publicis +2.0%, Stellantis NV +1.9%, and TotalEnergies SE +1.5%. On the downside, Bouygues fell 2.3% leading losses, followed by Societe Generale -1.9%, Safran -1.8%, and Vinci -1.7%.
