BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The CAC 40 index that tracks the 40 largest French stocks based on the Euronext Paris plunged on Thursday as an increase in bond yields and the political uncertainty weighed on investor sentiment. The decline in Wall Street futures also weighed on sentiment.
The CAC 40 index that tracks the 40 largest French stocks based on the Euronext Paris is currently trading at 7,832.76, losing 89 points or 1.1 percent from the previous close of 7,921.68. The day's trading ranged between 7,859.66 and 7,791.63.
Currently, only 11 scrips in the 40-stock index are trading above the flatline. Danone topped gains with a surge of 1.5 percent. Orange as well as Bureau Veritas followed with gains of more than a percent.
Hermes International led losses with a plunge of 7.6 percent, followed by BNP Paribas as well as STMicroelectronics that shed more than 3 percent.
Amidst expectations of a monetary policy pause by major central banks next week, global bond yields have softened. However, the ongoing political unrest and worries about the fiscal position have caused France's 10-year bond yields to surge 2.2 percent overnight to 5.104 percent, the highest level since July 2002. Yields ranged between 5.142 percent and 5.018 percent in the day's trading versus 4.994 percent at the previous close.
Amidst the yen's rebound, the Dollar Index edged lower in Thursday's trading. The 6-currency Dollar Index has dropped 0.04 percent to 101.74. The index was at 101.78 a day earlier. The EUR/USD pair has in the meanwhile dropped 0.24 percent to 1.1206. The pair ranged between 1.1256 and 1.1199. The EUR/GBP pair has edged down 0.05 percent to 0.8383. The EUR/JPY pair has plunged 1.06 percent to trade at 175.65.
Data released earlier in the day showed France's manufacturing business climate index rising to 105 in October, marking its highest level since July 2022. Markets had expected a steady level of 101.
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