The CAC 40 inched up 0.1% to close at 8,726 on Monday amid ongoing uncertainty over the reopening of the Strait of Hormuz. US President Donald Trump said Washington was only “semi-negotiating” with Tehran and would wait for economic pressure on Iran to intensify. Meanwhile, Iranian Foreign Minister Abbas Araghchi denied direct talks with the US and reiterated that the Strait would remain closed until Tehran's demands, including the lifting of the naval blockade, are met. The impasse kept concerns over energy supplies, inflation, and the interest-rate outlook in focus. TotalEnergies gained 2% on higher oil prices. Defense stocks outperformed, with Safran up 1.6%, Airbus gaining 0.5%, and Thales rising 1%. Luxury and financial stocks were mixed, while technology shares declined, with STMicroelectronics down 0.9% and Schneider Electric losing 0.5%.