周一，CAC 40指数上涨0.7%，收于7740点，打破了连续三个交易日的下跌记录，受中东紧张局势可能缓解的迹象支撑。伊朗表示愿意缓和与以色列的冲突，缓解了对更广泛地区战争的担忧，市场情绪有所改善。在此背景下，投资者对美国关税政策和美国可能参与冲突的担忧仍然存在，但地缘政治风险的降低有助于推高股市。现在，人们的注意力转向了即将召开的七国集团峰会，贸易、安全和全球经济韧性将成为主要议题。在企业板块，开云集团的强劲表现领涨，在首席执行官更换后上涨11.7%，重振了投资者的乐观情绪，法国兴业银行（3.2%）和阳狮集团（3.0%）也领涨。另一方面，日产计划减持雷诺股份的消息传出后，雷诺股价下跌8.7%。

The CAC 40 index rose 0.7% to close at 7,740 on Monday, breaking a three-session losing streak, supported by signs of a possible easing of tensions in the Middle East. Market sentiment improved after Iran signaled a willingness to de-escalate its conflict with Israel, easing fears of a wider regional war. In this context, investors' apprehension about US tariff policy and possible American involvement in the conflict remains, but the decrease in geopolitical risk has helped push stocks higher. Attention now turns to the upcoming G7 summit, where trade, security and global economic resilience will be the main topics. In the corporate sector, gains were led by the strong performance of Kering, which rose 11.7% after a change of CEO, reviving investor optimism, SocGen (3.2%) and Publicis (3.0%). On the other hand, Renault fell 8.7% after news that Nissan plans to reduce its stake in the French carmaker.

在巴黎，CAC 40指数周一上涨61点，涨幅0.80%。涨幅最大的是开云集团（12.93%）、法国兴业银行（3.02%）和法国巴黎银行（2.95%）。最大的损失来自雷诺（-8.22%）、保乐力加（-1.20%）和赛诺菲（-0.90%）。

In Paris, the CAC 40 Index went up by 61 points or 0.80 percent on Monday. Top gainers were Kering (12.93%), Societe Generale (3.02%) and BNP Paribas (2.95%). Biggest losses came from Renault (-8.22%), Pernod Ricard (-1.20%) and Sanofi (-0.90%).

法国10年期OAT收益率在短暂达到近一个月高点3.30%后跌至3.23%，因为地缘政治紧张局势的缓解支撑了对主权债券的需求。《华尔街日报》报道称，伊朗正寻求缓和与以色列的敌对行动，并通过阿拉伯中间人发出信号，恢复核谈判。在货币政策方面，人们普遍预计美联储将在周三保持利率稳定。然而，市场将密切关注最新的经济预测和点阵图，以寻找未来政策路径的信号。在欧元区，货币市场对欧洲央行年底前的存款利率定价为1.79%，而9月份降息的可能性已从60%降至50%。欧洲央行政策制定者Joachim Nagel强调了灵活性的必要性，称经济前景存在“异常的不确定性”。

France’s 10-year OAT yield fell to 3.23% after briefly reaching a near one-month high of 3.30%, as easing geopolitical tensions supported demand for sovereign bonds. The Wall Street Journal reported that Iran is seeking to de-escalate hostilities with Israel and resume nuclear negotiations, signaling through Arab intermediaries. On the monetary policy front, the Federal Reserve is widely expected to hold interest rates steady on Wednesday. However, markets will closely examine the updated economic projections and dot plot for signals on the future policy path. In the Eurozone, money markets are pricing the ECB’s deposit rate at 1.79% by year-end, while the odds of a September rate cut have slipped to 50%, down from 60%. ECB policymaker Joachim Nagel emphasized the need for flexibility, citing “exceptional uncertainty” in the economic outlook.

法国10年期OAT收益率升至3.26%以上，触及5月23日以来的最高水平，投资者评估了油价上涨带来的通胀风险，并等待美联储本周晚些时候的政策决定。随着以色列和伊朗之间紧张局势的升级，原油价格飙升至近五个月高点，引发了人们对潜在供应中断的担忧，特别是如果霍尔木兹海峡被关闭的话。至于货币政策，人们普遍预计美联储周三将保持利率不变。然而，市场将密切关注最新的经济预测和点阵图，以寻找未来利率走势的线索。在欧元区，货币市场目前将欧洲央行的存款便利利率定价为年底前1.79%，而9月份降息的可能性已从60%降至50%。欧洲央行官员Joachim Nagel强调了保持灵活性的重要性，并指出经济前景存在“异常的不确定性”。

France’s 10-year OAT yield rose above 3.26%, having touched its highest level since May 23, as investors assessed the inflationary risks posed by rising oil prices and awaited the US Federal Reserve’s policy decision later this week. Crude prices have surged to near five-month highs amid escalating tensions between Israel and Iran, raising concerns over potential supply disruptions—particularly if the Strait of Hormuz were to be closed. As for monetary policy, the Fed is widely expected to keep interest rates unchanged on Wednesday. However, markets will closely scrutinize the updated economic projections and the dot plot for clues on the rate path ahead. In the Eurozone, money markets are now pricing the ECB’s deposit facility rate at 1.79% by year-end, while the likelihood of a September rate cut has fallen to 50%, down from 60%. ECB official Joachim Nagel stressed the importance of maintaining flexibility, citing the “exceptional uncertainty” surrounding the economic outlook.