在巴黎，CAC 40指数周五上涨90点，涨幅1.13%。涨幅最大的是泰雷兹（4.88%）、空客（3.93%）和欧莱雅（3.61%）。

In Paris, the CAC 40 Index went up by 90 points or 1.13 percent on Friday. Top gainers were Thales (4.88%), Airbus (3.93%) and L'Oréal (3.61%).

CAC 40指数周五上涨1.1%，收于8028点，较前一交易日反弹，因投资者对德国财政支出增加的前景做出了积极回应。候任总理弗里德里希·默茨与绿党和社民党达成协议，向该国的国防部门和老化的基础设施注入数十亿美元。奢侈品行业表现突出，受Brunello Cucinelli第四季度强劲业绩的推动，欧莱雅飙升3.4%，爱马仕上涨1.4%。国防股泰雷兹也支撑了该指数，飙升5.6%。然而，在Gucci任命Demna为新任艺术总监后，开云集团股价暴跌10.7%。尽管取得了这些进展，但贸易紧张局势升级和地缘政治担忧的背景，包括特朗普总统对欧盟葡萄酒征收200%关税的威胁以及对美国斡旋的乌克兰停火的怀疑，让投资者保持谨慎。CAC 40指数周跌幅达2.1%。

The CAC 40 rose 1.1% to close at 8,028 on Friday, rebounding from the previous session, as investors responded positively to prospects of increased fiscal spending in Germany. Chancellor-designate Friedrich Merz secured agreements with the Green Party and SPD to inject billions into the country’s defense sector and aging infrastructure. The luxury sector was a standout, with L'Oréal surging 3.4% and Hermes rising 1.4%, boosted by strong Q4 results from Brunello Cucinelli. Defense stock Thales also supported the index, soaring 5.6%. However, Kering plunged 10.7% after Gucci appointed Demna as its new artistic director. Despite the gains, the backdrop of escalating trade tensions and geopolitical concerns, including President Trump's threat of a 200% tariff on EU wine and doubts about a US-brokered ceasefire in Ukraine, left investors cautious. The CAC 40 posted a sharp 2.1% weekly decline.

法国10年期政府债券收益率升至3.6%，徘徊在2011年4月以来的最高水平附近，因为投资者对即将上任的德国总理弗里德里希·默茨周五与绿党和社会民主党达成协议的消息做出了反应，该协议批准在议会投票前几天大幅扩大国家借贷和5000亿欧元的基础设施基金。与此同时，投资者准备应对法国主权评级可能被下调的情况，惠誉评级将审查该国的AA信用评分。自10月以来，该评级一直持负面展望，反映出对财政整顿恶化和政府增加国防开支承诺的担忧。在其他地方，欧洲央行行长克里斯蒂娜·拉加德警告称，在贸易紧张局势加剧和雄心勃勃的财政政策下，维持价格稳定将变得越来越困难。

The yield on France’s 10-year government bond rose to 3.6%, hovering near its highest level since April 2011, as investors reacted to news that incoming German Chancellor Friedrich Merz reached an agreement with the Green and Social Democrat parties on Friday to approve a major expansion of state borrowing and a €500 billion infrastructure fund, just days ahead of a parliamentary vote. Meanwhile, investors braced for a potential downgrade of France’s sovereign rating, with Fitch Ratings set to review the country’s AA- credit score. The rating has carried a negative outlook since October, reflecting concerns over worsening fiscal consolidation and the government’s commitment to increased defense spending. Elsewhere, ECB President Christine Lagarde warned that maintaining price stability will become increasingly difficult amid rising trade tensions and ambitious fiscal policies.

CAC 40指数周五上涨0.8%，至7998点，在奢侈品板块强劲上涨的推动下，较前一交易日反弹。欧莱雅领涨该指数，飙升4.1%，LVMH上涨2.1%，爱马仕上涨2%，这得益于Brunello Cucinelli 2024年第四季度令人印象深刻的业绩。此外，国防股泰雷兹支撑指数上涨，股价上涨3.2%。然而，在Demna被任命为Gucci的新艺术总监后，奢侈品领域的另一家关键企业开云集团股价下跌13.5%，至三个多月来的最低点。与此同时，投资者正密切关注日益加剧的全球贸易紧张局势，美国总统唐纳德·特朗普威胁对从欧盟进口的葡萄酒和其他酒精饮料征收200%的关税，以报复欧盟新采取的反制措施。在地缘政治方面，俄罗斯总统弗拉基米尔·普京对美国斡旋的乌克兰冲突停火的前景表示怀疑。本周，该指数有望大幅下跌。

The CAC 40 rose 0.8% to 7,998 on Friday, rebounding from the previous session, buoyed by strong gains in the luxury sector. L’Oréal led the index, surging 4.1%, while LVMH gained 2.1% and Hermes advanced 2%, boosted by Brunello Cucinelli’s impressive Q4 2024 results. Additionally, defense stock Thales supported the index’s lift, with shares climbing 3.2%. However, Kering, another key player in the luxury space, dropped 13.5% to over three-month low following the appointment of Demna as Gucci’s new artistic director. Meanwhile, investors were closely monitoring growing global trade tensions, with U.S. President Donald Trump threatening a 200% tariff on wine and other alcoholic beverages imported from the EU in retaliation for the bloc’s newly imposed countermeasures. On the geopolitical front, Russian President Vladimir Putin cast doubt on the prospects of a U.S.-brokered ceasefire in the ongoing Ukraine conflict. Over the week, the index is on track for a sharp weekly decline.