Overview

• S&P Global Ratings cut France’s sovereign rating one notch to A+, citing elevated uncertainty over public finances and moving earlier than its initially expected review.
• The CAC 40 rose 0.39% to 8,206.07, staying within sight of record levels as investors took comfort from signs of forthcoming U.S.–China talks and a busy earnings calendar.
• France’s 10-year yield ended around 3.36% with Germany’s at roughly 2.57%–2.59%, leaving the spread near 0.78 percentage point and showing little immediate stress.
• BNP Paribas slid 7.73% after a New York jury found the bank complicit in violence in Sudan under Omar al-Bashir, while the bank said the verdict should not carry broader implications.
• Kering jumped about 4.8% after agreeing to sell its beauty division to L’Oréal for €4 billion, with completion targeted in the first half of 2026 to help reduce debt.