The CAC 40 surged 1.6% to 7,687 on Thursday, marking its highest level in a month and mirroring a global stock rally fueled by renewed optimism surrounding China’s stimulus package. Reports indicate that Chinese authorities are considering additional measures, including a potential injection of up to CNY 1 trillion into the country’s largest state banks.
Among the luxury giants, Kering experienced a remarkable jump of around 7%, while LVMH soared 6.3% and Hermes climbed 5.5%, all reaching three-week peaks as they benefited from the positive sentiment stemming from China’s economic initiatives, which have bolstered demand expectations. Other notable performers included Renault, ArcelorMittal, STMicroelectronics, L’Oréal, and Pernod Ricard, with their shares climbing between 2.9% and 4.5%. On the flip side, Teleperformance saw a significant decline, plummeting around 6.8% to its lowest level since April.
