The Paris CAC 40 rose 1.1% to close at 8,060 on Wednesday, moving in step with European peers as steel stocks led the advance after the European Union unveiled new trade measures on Tuesday. Steelmakers were among the top gainers after the EU said it would cut tariff-free quotas on imported steel and raise duties on excess imports from 25% to 50%, with ArcelorMittal surging 6.6%. The heavyweight luxury complex also contributed, as LVMH, Hermes and Kering added between 1.8% and 2.8%, broadening the rally. At the same time, investors kept a wary eye on France’s deepening political crisis as President Emmanuel Macron faces mounting pressure from repeated cabinet reshuffles and an unstable parliament, while the opposition presses for early elections and the recently resigned Prime Minister, Sebastien Lecornu, has been tasked with presenting a viable action plan and stable governing platform by tonight, though doubts persist about his ability to do so.