Paris’ CAC 40 reversed early gains to trade 0.2% lower at 8,170 points on Monday, after hitting an all-time high of 8,239.67 earlier in the session. BNP Paribas tumbled 8% following a $20.75 million US jury verdict against the bank over its alleged complicity in Sudan atrocities two decades ago, with peers Crédit Agricole and Société Générale falling more than 2%. On the upside, Kering surged 3.5% after agreeing to sell its beauty division to L’Oréal for €4 billion, while L’Oréal shares added 0.4% on the news. Thales rebounded 2.7% from last week’s decline, supported by renewed demand for defense stocks after conflict reignited in Gaza and as the Ukraine war showed no signs of easing. Airbus climbed 1.1% after India’s IndiGo finalized an order for 30 A350 aircraft. In other news, investors digested S&P Global Ratings’ downgrade of France, citing heightened fiscal risks and persistent uncertainty surrounding government finances.
