BRUSSELS (dpa-AFX) - French stocks gained notable ground in positive territory on Monday as easing concerns about Middle East tensions and weak oil prices lifted sentiment, triggering some strong buying at several counters.
Oil prices fell sharply after Iran and the U.S. paused military strikes over the weekend, paving the way for talks to avoid a return to full-scale war.
After the U.S. paused its strikes against Iran for a second night, Iran stopped conducting counterattacks. According to reports, Pakistan is exploring a path toward new U.S.-Iran talks over ending the conflict.
Brent crude futures slid to $84.91 a barrel, losing more than 8%.
France's benchmark index CAC 40, which climbed to 8,463.71 earlier, was up 63.17 points or 0.75% at 8,435.45 nearly half an hour past noon.
Capgemini moved up 3.75%. Kering, Renault and Safran gained 2.7%, 2.5% and 2.4%, respectively. BNP Paribas, Hermes International, STMicroelectronics, Pernod Ricard, Michelin and Dassault Systemes climbed 2%-2.2%.
Societe Generale, EssilorLuxottica, Euronext, Carrefour, Sanofi, Schneider Electric, Airbus, Accor, Saint-Gobain, ArcelorMittals, Accor, LVMH and Bureau Veritas gained 1%-1.8%.
Among the losers, TotalEnergies dropped about 3.3%, weighed down by a sharp drop in oil prices. Engie shed 1.1%, while Bouygues and Stellantis both drifted down by 0.7%.
In economic news, loans to the euro area private sector registered a steady growth in June, data published by the European Central Bank showed Monday. Adjusted loans to the private sector increased 3.9% year-on-year in June, the same rate of growth as seen in May.
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