French Stocks Mixed In Cautious Trade

(RTTNews) - French stocks turned in a mixed performance in cautious trade on Monday amid uncertainty over the reopening of the Strait of Hormuz. Investors looked ahead to U.S. inflation data due later this week, for clues about Federal Reserve's interest rate moves.

Oil prices climbed higher. Brent crude futures rose to $84.97 a barrel before dropping to around $87.45, still up nearly 1.3% from previous close.

Iran has warned that it will not reopen the Strait of Hormuz unless the United States meets a series of conditions, raising worries that U.S. President Donald Trump may relaunch the military option that he shelved only days ago.

In an interview with Axios on Sunday, Trump signaled patience and suggested that he's prepared to allow economic pressure on Iran to mount rather than escalate militarily.

The benchmark CAC 40, moving in a very tight range, was

EssilorLuxottica drifted lower by about 2.5%. Publicis Groupe, Orange, Kering and Capgemini lost 1%-1.4%.

Veolia Environment, AXA, Engie, Bouygues, Unibail Rodamc, Danone, Stellantis, Vinci,Air Liquide and Carrefour dropped 0.3%-0.7%.

STMicroelectronics moved up 2.2%. Hermes International climbed 1% and LVMH added 0.8%, while Accor, Credit Agricole, Renault and Euronext advanced 0.4%-0.7%.

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