CAC 40 Gains Despite Escalating Middle East Tensions

French stocks traded higher on Monday despite Iran’s attack on Israel over the weekend.

Analysts expect Israel’s response to be more measured in order to deescalate tensions.

Also, the mass drone and missile attacks were largely priced in the days leading up to it and there was limited damage, according to the Israeli government.

The benchmark CAC 40 was up 53 points, or 0.7 percent, at 8,063 after falling 0.2 percent on Friday.

BNP Paribas shares rose about 1 percent. Th lender said it had signed an agreement to acquire Fosun Group’s stake of about 9 percent in ageas for approximately 730 million euros.

Peer Credit Agricole was up around 0.8 percent while Societe Generale was down half a percent.

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