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Shares of French luxury brands slumped, with LVMH, EssilorLuxottica, and Hermès losing more than 2.3% each.
The banking sector was hit even harder:
- Société Générale dropped 3.2%,
- BNP Paribas plunged 4.2%, reflecting investor anxiety over potential fiscal instability.
Semiconductor Stocks Shine Amid Market Weakness
Amid widespread declines, semiconductor stocks provided a bright spot.
- BESI surged 12.4%,
- ASML Holding gained 2%, after AMD announced a new chip supply partnership with OpenAI, boosting optimism in the tech sector.
JP Morgan Turns Bullish on Eurozone Equities
In contrast to the cautious mood, JP Morgan upgraded its view on Eurozone equities from “neutral” to “overweight”, citing attractive valuations and supportive monetary policies following months of market weakness.
Analysts noted that the correction presents “selective buying opportunities” across European blue-chip stocks, particularly in technology and industrial sectors that stand to benefit from easing financial conditions.
Political Risks Cast Shadow Over Recovery
While the broader European market remains supported by expectations of rate cuts and stable inflation, analysts warned that political instability in France could dampen investor confidence in the near term.
WA Channel
Ikuti Kami
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