The CAC 40 in the green as war clouds fade

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) – The CAC 40 index, which tracks the 40 largest French stocks on Euronext Paris, is trading in green territory as geopolitical concerns linked to the Russian-Ukrainian conflict ease.

The CAC-40 is currently trading at 7,236.66, up 0.10 percent from the previous close of 7,229.64. The day’s trading price was between 7,280.39 and 7,232.61.

Amid decreasing risk aversion, only 15 of the index’s 40 scripts are trading below the flat line.

Edenred topped its gains with a 3.3 percent rise after a brokerage upgraded the stock from “underperform” to “hold.” Kering rose more than 2 percent. Dassault Systèmes and Teleperformance both gained more than 1 percent.

Thales surpassed its losses with a decline of 1.9 percent. Renault, Vivendi, Stellantis and Capgemini all lost more than 1 percent.

Amid the dollar’s rebound, the EUR/USD pair slipped 0.38 percent to 1.0554 percent after oscillating between 1.0610 and 1.0542. With the pound strengthening after higher-than-expected inflation figures, the EUR/GBP pair also slipped 0.23 percent to 0.8336. With diminishing safe-haven demand weighing on the Japanese yen, however, the EUR/JPY pair rose 0.36 percent to 164.44.

As war clouds fade and safe-haven offerings dwindle, bond yields have tightened too much globally. Yields on French ten-year bonds reached 3.113 percent, registering an increase of 1.14 percent from the level of 3.078 percent at the previous close. The day’s trading ranged between 3.114 percent and 3.076 percent.