The CAC 40 rose 0.8% to close at 8,180 on Friday, rebounding from two straight sessions of losses as oil prices pulled back. Prospects for diplomatic efforts to ease tensions around the Strait of Hormuz dragged crude prices lower. Gulf foreign ministers are expected to meet their Iranian counterpart in Oman on Monday as part of efforts to secure support for a temporary arrangement to manage shipping through the strait. The halt in the surge in energy prices allowed equities to enjoy some respite. Luxury stocks closed mostly higher as risk aversion eased, with LVMH adding 2.2%, L’Oreal up 1.1% and Kering rising 1.9%. Industrials also posted gains across multiple subsectors, with Airbus up 1.8%, Safran rising 2.5%, Schneider Electric adding 1.3%, STMicroelectronics gaining 2.4% and Stellantis advancing 3.1%. Financials also moved higher, with BNP Paribas and Societe Generale each up 1.1%. Despite Friday’s rebound, the CAC 40 lost 1.4% on the week.