在巴黎，CAC 40指数周四上涨52点，涨幅0.64%。涨幅最大的是Teleperformance SE（6.98%）、安赛乐米塔尔（6.60%）和圣戈班（5.57%）。最大的损失来自Unibail-Rodamco（-4.24%）、Essilor（-3.16%）和Hermes International（-2.81%）。

In Paris, the CAC 40 Index went up by 52 points or 0.64 percent on Thursday. Top gainers were Teleperformance SE (6.98%), ArcelorMittal (6.60%) and Saint-Gobain (5.57%). Biggest losses came from Unibail Rodamco (-4.24%), Essilor (-3.16%) and Hermes International (-2.81%).

CAC 40指数周四反弹，收于8198点，涨幅0.3%，从8100点的盘中低点回升，交易员评估了欧洲央行的最新决定。正如预期的那样，央行连续第六次降息，但采取了谨慎的基调，为暂停货币宽松周期铺平了道路。市场情绪受到对德国大规模支出计划的乐观情绪以及美国总统唐纳德·特朗普决定将墨西哥和加拿大的汽车关税再推迟一个月的支持。在个股中，圣戈班、安赛乐米塔尔、意法半导体、布伊格和Teleperformance表现最佳，涨幅在4.6%至7.4%之间。跌幅最大的包括路威酩轩集团（-1.7%）、爱马仕（-3.1%）、施耐德电气（-1.1%）、Essilor Luxottica（-31%）和Unibail-Rodamco-We（-4.3%）。

The CAC 40 rebounded to close 0.3% higher at 8,198 on Thursday, recovering from an intraday low of 8,100 as traders assessed the latest ECB decision. The central bank delivered its sixth consecutive rate cut, as expected, but adopted a cautious tone, paving the way for a pause in its monetary easing cycle. Market sentiment was supported by optimism around Germany's massive spending plan and US President Donald Trump's decision to delay auto tariffs on Mexico and Canada for another month. Among individual stocks, Saint-Gobain, ArcelorMittal, STMicroelectronics, Bouygues, and Teleperformance were the top performers, adding between 4.6% and 7.4%. Top losers included LVMH (-1.7%), Hermes (-3.1%), Schneider Electric (-1.1%), Essilor Luxottica (-3.1%), and Unibail-Rodamco-We (-4.3%).

根据本次政府债券到期的场外银行间收益率报价，法国10年期债券收益率升至3.6以上。

France 10Y Bond Yield rose above 3.6, according to over-the-counter interbank yield quotes for this government bond maturity.

法国10年期政府债券收益率飙升至近3.6%，创下2011年4月以来的最高水平，此前德国基民盟/基社盟和社民党达成协议，放宽该国的债务限制，这引发了人们对欧洲增长前景的乐观情绪。德国承诺为基础设施提供5000亿欧元的特别基金，并采取行动放宽国防开支限制。与此同时，欧洲央行如预期般降息，但在上调近期通胀预测的同时，对未来利率变动采取了更为谨慎的立场。政策制定者现在预计，在能源价格上涨的推动下，2025年的整体通胀率平均为2.3%，2026年的通胀率预计为1.9%，2027年为2.0%。市场目前预计，到12月，存款利率将从周二欧洲央行发表声明和德国财政公告前的1.9%上升至约2.1%。

The yield on France's 10-year government bond surged to nearly 3.6%, marking its highest level since April 2011, after a deal between Germany’s CDU/CSU and SPD to ease the country’s debt brake raised optimism about Europe’s growth prospects. Germany pledged a €500 billion special fund for infrastructure and moved to loosen defense spending constraints. Meanwhile, the European Central Bank cut interest rates as expected but adopted a more cautious stance on future rate changes while revising its near-term inflation forecasts upward. Policymakers now expect headline inflation to average 2.3% in 2025, driven by higher energy prices, with 2026 inflation projected at 1.9% and 2027 at 2.0%. Markets are now anticipating a deposit rate of approximately 2.1% by December, up from 1.9% on Tuesday before the ECB’s statement and Germany's fiscal announcement.