The CAC 40 fell more than 1% to around 8,345 on Thursday, reversing the previous session’s gains as escalating geopolitical tensions dampened risk appetite amid a busy slate of corporate earnings and updates. President Trump warned that the US would strike Iranian infrastructure in response to attacks on vessels transiting the Strait of Hormuz, while Tehran threatened retaliation against regional energy assets. Adding to concerns, Yemen’s Houthi rebels claimed responsibility for attacks on two Saudi tankers. Among corporate movers, STMicroelectronics slumped 14.3% after forecasting Q3 sales below market expectations. BNP Paribas also declined 1.1% despite posting better-than-expected Q2 results. In contrast, Thales added 1.8% after reporting a 22% surge in first-half orders, supported by rising defense spending. Moreover, TotalEnergies climbed 2% after reporting a 68% jump in adjusted net income to $6.03 billion, benefiting from elevated energy prices.