FX.co ★ CAC 40 Hits Record High

On Wednesday, the CAC 40 index saw an increase of 0.5%, reaching a new peak at 8,395 points. This rise came as investors welcomed stronger-than-anticipated trade figures from China alongside significant corporate developments from prominent French corporations. Leading the charge was Essilor, which surged 2.6% after HSBC upgraded the stock's rating from Hold to Buy and increased its target price from €300 to €340. Engie improved by 0.2% after launching its inaugural hybrid energy project in India, while Safran climbed by 0.5% post announcing a share buyback tranche agreement with an investment services firm aimed at stock cancellation. In the luxury sector, results were mixed following Saks Global's bankruptcy filing, which unveiled Kering and LVMH as unsecured creditors to the tune of approximately $136 million and $26 million, respectively. Kering's shares dipped by 0.2%, whereas LVMH's increased by 0.6%. Other significant gainers included Société Générale, up by 1.7%, Orange advancing by 1.6%, Hermès International also climbing by 1.5%, and Sanofi with an identical increase of 1.5%. Conversely, TP's shares fell by 1.0%, with Edenred decreasing by 0.9%, Thales by 0.8%, and Dassault Systèmes by 0.7%.