BRUSSELS (dpa-AFX) - French stocks rallied on Monday amid rising optimism about Iran and the U.S. striking a peace deal that could reopen the Strait of Hormuz. A sharp drop in crude oil prices helped ease concerns about inflation.
Brent crude prices fell nearly to $94.11 a barrel, losing more than 6%.
The benchmark CAC 40 was up 123.32 points or 1.52% at 8,239.07 a little over half an hour past noon.
Safran gained 5.2% and Accor moved up 4.5%, while Renault, Societe Generale, Saint Gobain, Vinci and Airbus climbed 3%-4%.
Stellantis, Eiffage, BNP Paribas gained 2.6%, while Schneider Electric, Hermes International, Credit Agricole, Bouytues, ArcelorMittal and Kering gained 2%-3%.
Capgemini, Veolia Environment, Air Liquide, EssilorLuxottica, Michelin, LVMH, Dassault Systemes, Unibail Rodamco, Pernod Ricard and Publicis Groupe also moved notably higher.
TotalEnergies dropped 1.7%. Euronext and STMicroelectronics shed 1.1% and 1%, respectively.
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