French stocks rise to 3-week high

The CAC40 market on Friday was boosted by optimism surrounding expectations for the US Federal Reserve (Fed) rate cut in September, Labor's victory in the British election, and the possibility that the Marine Le Pen Party will lose the election in the next election, etc., and hit a high of 7,729 dollars, up 0.4% for the first time in 3 weeks.

Most stocks began to rise, with Eurofins Scientific, which strongly refuted Muddy Waters's suspicions, surged nearly 4%.

ST Microelectronics also rose approximately 2.3% in response to the announcement of financial results for the second quarter scheduled for 2024/7/25.

In contrast, BNP Paribas shares fell slightly by 0.5% in response to reports that BNP Paribas and UBS are considering the acquisition of HSBC's German asset management division.

According to economic indicators, French industrial production in 2024/5 fell 2.1% from the previous month, and recorded a significant drop since 2022/10. In contrast to the upward revised value of 0.6% increase in the previous month, it was worse than the expected 0.5% decrease.