CAC 40 Outperforms After No-Confidence Vote

The Paris CAC 40 rose 1.4% to close at 8,189 on Thursday, its highest level since early March, outperforming EU peers as a major overhang was lifted when France’s government survived a no-confidence vote.

Prime Minister Sébastien Lecornu’s pledge to suspend the landmark pension reform secured support from the Socialist Party.

Pernod Ricard led individual stock gains, soaring 4.2% despite a 7.6% organic decline in first-quarter 2025/26 revenue, after reaffirming full-year 2026 guidance and saying sales should improve in the second half.

Other notable movers included Michelin (3.4%), Legrand (2.8%) and Sanofi (2.4%).

Meanwhile, only a few names retreated, namely Kering down 1.5% after Berenberg downgraded the stock from hold to sell citing high valuation and a 14.6% revenue drop over the past 12 months.