The CAC 40 rose 1.0% to close at 7,738 on Wednesday, recovering from a slight loss in the previous session as investors focused on trade negotiations between the US and global partners, and the ECB Forum. On Tuesday, President Trump reaffirmed there will be no extension of the July 9th trade deadline. He expressed optimism about a deal with India but cast doubt on one with Japan, warning of new tariffs if talks stall. The EU is considering accepting a 10% US tariff on its exports if Washington cuts duties in key sectors. At the ECB Forum, Lagarde said inflation is stabilizing but it's too early for new rate cuts. Among the top performers were ArcelorMittal (+5.9%), STMicroelectronics (+4.9%) and LVMH (+4.1%), which rose after Goldman Sachs included it in its “European Conviction Buy” list - considering it “a clear winner in the coming luxury recovery” - at a time when the recovery of the Chinese manufacturing PMI has raised hopes of new demand for luxury goods.