France: CAC 40 Snaps Eight-Session Losing Streak.

The CAC 40 rose 0.4% to close at 8,484 on Friday, snapping an eight-session losing streak, supported by gains in luxury stocks. The luxury sector rebounded after sharp losses in the previous session amid geopolitical concerns and persistent worries over Chinese demand. LVMH added 2%, Hermes gained 1.1%, and Kering rose 1%. Meanwhile, eurozone government bond yields stabilized after a week marked by stress across global bond markets, which even intervention by the US Treasury Department appeared unable to fully contain. Financials traded mostly higher, with BNP Paribas rising 1.2%. Pharmaceutical and healthcare stocks also advanced, with Sanofi up 1.4% and EssilorLuxottica adding 1.2%. On the data front, France’s manufacturing business climate indicator improved to 103 in August, beating both market expectations and July’s reading of 101 and reaching its highest level since January. Eurozone consumer confidence also rose 0.4 points in August from July.