The CAC 40 index dropped 0.6% to around 7,925 on Monday, trimming gains from the previous session as investors assessed remarks from central bank top officials. ECB President Christine Lagarde on Saturday highlighted that Europe’s labor market had performed much better than expected, remaining resilient despite high inflation and a series of steep interest rate hikes in recent years. At the same time, expectations that the US Federal Reserve could begin cutting interest rates next month had supported a late-week rally in global markets. Markets also remain cautious after last week’s renewed clarity on the US-EU trade deal, particularly for pharmaceuticals, but sentiment is dominated by uncertainty over growth and monetary policy paths. Looking ahead, the week begins with relatively light economic releases, while attention will turn to inflation figures from France. Among individual stocks, top laggards included LVMH (-0.9%), Loreal (-1.1%), Essilor (-0.6%), and Total Energies (-0.8%).