CAC 40 Drifts Lower On US-Iran Tensions

French stocks were moving lower on Friday amid heightened geopolitical tensions after a U.S. airstrike killed top Iranian military personnel, Qassem Soleimani.


The U.S. Department of Defense said in a statement that it had killed the head of the Islamic Revolutionary Guard's elite Quds Forces in an airstrike.


The Department of Defense said Soleimani was behind the recent attacks on the U.S. embassy in Baghdad and said the "strike was aimed at deterring future Iranian attack plans."


The benchmark CAC 40 was down 34 points, or 0.56 percent, at 6,008 after gaining 1.1 percent on Thursday.


Shares of Total SA, an integrated oil & gas company, rose around 1 percent as global oil prices jumped over 3 percent after Iranian leader Ayatollah Ali Khamenei said there would be "revenge" for Soleimani's death.


In economic releases, French consumer inflation grew at the fastest pace in a year in December, flash data from the statistical office Insee showed.


Consumer prices increased 1.4 percent year-on-year in December, faster than the 1 percent rise in November. This was the fastest increase since December 2018, when prices advanced 1.6 percent.




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