巴黎CAC 40指数下跌0.4%，至7930点左右，前一交易日下跌1.4%，因为政治不确定性继续笼罩着欧洲第二大经济体。法国总理塞巴斯蒂安·勒科尔努在上任仅27天后突然辞职，成为第五共和国历史上任职时间最短的总理。尽管他辞职了，但总统埃马纽埃尔·马克龙（Emmanuel Macron）委托他今天进行为期两天的“最后谈判”，以找到解决政治僵局的办法，恢复国家的“稳定”。在个股中，银行业拖累市场走低，法国兴业银行下跌0.8%，法国农业信贷银行下跌0.6%，法国巴黎银行下跌0.9%。在其他地方，芯片股意法半导体下跌1.2%，尽管有消息称AMD和OpenAI之间达成了数十亿美元的芯片供应协议。另一方面，LVMH股价上涨1.7%，开云集团股价上涨2%，此前摩根士丹利将两家公司的评级从“同等权重”上调至“增持”。

The Paris CAC 40 fell 0.4% to around 7,930, following a 1.4% drop in the previous session, as political uncertainty continues to loom over Europe’s second-largest economy. French Prime Minister Sébastien Lecornu abruptly resigned after just 27 days in office, becoming the shortest-serving prime minister in the history of the Fifth Republic. Despite his resignation, President Emmanuel Macron has tasked him with conducting two days of “final negotiations” today to find a solution to the political deadlock and restore “stability” to the country. Among individual shares, the banking sector dragged the market lower, with Societe Generale down 0.8%, Credit Agricole 0.6%, and BNP Paribas 0.9%. Elsewhere, chip stock STMicroelectronics declined 1.2%, even after news of a multi-billion-dollar chip supply agreement between AMD and OpenAI. On the other hand, LVMH shares rose 1.7% and Kering advanced 2% after Morgan Stanley upgraded its rating on both companies to “overweight” from “equal weight".

法国在2025年8月公布了15亿欧元的经常账户盈余，而上个月的赤字为19亿欧元。这标志着自3月以来的首次经常账户盈余，因为商品账户赤字从57亿欧元缩小到42亿欧元。此外，8月份服务账户盈余从7月份的41亿欧元跃升至60亿欧元。与此同时，初级收入盈余从14亿欧元小幅收窄至12亿欧元，而次级收入缺口从46亿欧元扩大至48亿欧元。

France posted a current account surplus of EUR 1.5 billion in August 2025, shifting from a downwardly revised deficit of EUR 1.9 billion in the previous month. This marked the first current account surplus since March, as the goods account deficit narrowed to EUR 4.2 billion from EUR 5.7 billion. Additionally, the services account surplus jumped to EUR 6 billion in August from EUR 4.1 billion in July. Meanwhile, the primary income surplus narrowed slightly to EUR 1.2 billion from EUR 1.4 billion, while the secondary income shortfall widened to EUR 4.8 billion from EUR 4.6 billion.

2025年8月，法国的贸易逆差从7月修订后的57亿欧元收窄至55亿欧元，但高于预期的52亿欧元缺口。这是自2024年12月以来的最低数字。出口稳定在518亿欧元，运输设备（+4.9%）和农产品（+0.5%）的增长被精炼石油产品（-8.8%）、艺术品和古董（-53.1%）以及其他工业产品（-1.4%）的下降所抵消。按地区划分，对非洲（+8.3%）、美国（+4.9%）和中东（+5.0%）的出口有所上升，而对亚洲（-12.6%）和欧盟（-1.0%）的出口则有所下降。与此同时，进口下降0.4%，至573亿欧元，主要原因是机械、电气和计算机设备（-1.1%）和精炼石油产品（-7.6%）的采购量减少，部分被农产品（+3.7%）和其他工业产品（+1.3%）的出货量增加所抵消。来自非洲的进口额攀升（+11.8%），但来自亚洲（-3.5%）和中东（-25.3%）的进口额下降，欧盟的进口额增长1.1%。

France’s trade deficit narrowed to €5.5 billion in August 2025 from a revised €5.7 billion in July, but above expectations of a €5.2 billion gap. This marks the smallest figure since December 2024. Exports were stable at €51.8 billion, as gains in transport equipment (+4.9%) and agricultural products (+0.5%) were offset by declines in refined petroleum products (-8.8%), art and antiques (-53.1%), and other industrial products (-1.4%). By region, exports rose to Africa (+8.3%), America (+4.9%), and the Middle East (+5.0%), while shipments to Asia (-12.6%) and the EU (-1.0%) declined. Meanwhile, imports fell 0.4% to €57.3 billion, driven by lower purchases of mechanical, electrical, and computer equipment (-1.1%) and refined petroleum products (-7.6%), partially offset by higher shipments of agricultural products (+3.7%) and other industrial products (+1.3%). Imports climbed from Africa (+11.8%) but fell from Asia (-3.5%) and the Middle East (-25.3%), with EU arrivals up 1.1%.

法国官方储备资产连续第三个月增长，从8月份的3048亿欧元增至2025年9月的创纪录高点3302.7亿欧元。这主要是由于黄金储备的增加（2545.9亿欧元对8月份的2291.6亿欧元）和对国际货币基金组织的索赔（386亿欧元对384.2亿欧元）。与此同时，外汇储备（306.8亿欧元对308.1亿欧元）和其他储备资产（64.0亿欧元对64.2亿欧元）减少。

France’s official reserve assets rose for a third consecutive month to reach a record high of €330.27 billion in September 2025, from €304.80 billion in August. This was mainly driven by increases in gold reserves (€254.59 billion vs €229.16 billion in August) and claims on the IMF (€38.60 billion vs €38.42 billion). Meanwhile, foreign currency reserves (€30.68 billion vs €30.81 billion) and other reserve assets (€6.40 billion vs €6.42 billion) decreased.