The increase of 2.3 percent for the CAC40 index occurs after yesterday's announcement that the Socialist Party is withdrawing its vote of no confidence against Prime Minister Sébastien Lecornu's new government. Thus, it is deemed that a new political crisis has been averted.
The background to the Socialist Party's announcement is that Lecornu has announced that a disputed pension reform will be postponed until after the next presidential election, which will be held in 2027.
The market also receives support in the form of quarterly figures from the luxury conglomerate LVMH, which reports a sales increase during the third quarter, among other things due to increased demand in China.
LVMH, which includes luxury brands such as Louis Vuitton and Christian Dior, is now surging 13 percent, the largest increase since January 2024.
