CAC 40 Dips 0.4% as Middle East Tensions Lift Oil Prices

The CAC 40 index fell 0.4% on May 28, 2026, as investors reacted to rising crude oil prices driven by escalating Middle East tensions. The decline erased a portion of the prior session's gains, with growth-sensitive sectors bearing the brunt of selling pressure. Brent crude futures surged 2.1% to $78.50 a barrel, while West Texas Intermediate rose 1.9% to $74.30, amid fears of supply disruption. The spike weighed on transportation and consumer discretionary stocks. Air France-KLM shares dropped 1.2%, and automaker Renault slipped 0.8%. Conversely, energy giant TotalEnergies advanced 1.5%, partially cushioning the index. Market sentiment soured as geopolitical uncertainty overshadowed otherwise steady corporate news. The French benchmark underperformed the broader European STOXX 600, which edged down 0.2%.