BRUSSELS (dpa-AFX) - France's equity index CAC 40 remains in negative territory around early afternoon on Thursday despite coming off early lows, amid deepening tensions in the Gulf region due to the attack on oil tankers.
The surge in oil prices has raised concerns about inflation and possible rate hikes by central banks, including the European Central Bank.
Trade concerns have resurfaced following U.S. President Donald Trump launching new trade probes targeting the EU and other economies, aiming to replace the reciprocal tariffs struck down by the Supreme Court.
Bank stocks are down in negative territory, while defense stocks are finding support.
Brent crude futures rose to $101.59 a barrel, before retreating to around $96.50, still up nearly 5% over previous close.
The CAC 40, which dropped to 7,976.04, was down 10.08 points at 8,031.73 a little while ago.
Pernod Ricard is declining by 2.3% and ArcelorMittal is down 2%. Credit Agricole, BNP Paribas, Societe Generale, Accor, Michelin, Kering and LVMH are down 1%-1.9%.
Stellantis, Orange, Hermes International, Unibail Rodamco, Safran, Vinci and Airbus are also down in negative territory.
Thales is climbing up nearly 4%. Dassault Systemes is up 1.85%. Euronex and Capgemini are gaining nearly 1%. Legrand, Engie, Air Liquide and Bouygues are also notably higher.
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