CAC 40 Advances Cautiously, Wall Street Supports Following Nasdaq 100 Surge

A Parisian Session Influenced by America

The tone of the morning in Paris owes much to the euphoric close on Monday across the Atlantic. At the close on Monday, September 21, at 10:00 PM (Paris time), the Nasdaq 100 soared by 2.83%, while the S&P 500 rose by 1.49% and the Dow Jones by 0.71%. This renewed appetite for technological stocks is influencing the European markets this morning, although not causing a frenzy. The STOXX 600 is making a modest gain of 0.10% during the session.

The context remains complex. This week, Donald Trump is hosting Xi Jinping in Washington for a state visit—the first by a Chinese leader to the United States in ten years. The two powers are attempting to stabilize a relationship undermined by trade and technology rivalry, with artificial intelligence at the center of discussions. In the background, the Federal Reserve's continued restrictive bias, having raised its rate on September 16, continues to encourage investors to remain cautious.

Tech and Industry Drive the Market

The discrepancy leans clearly toward the buyers, with 29 stocks rising compared to 11 declining. Leading the way, Capgemini gains 1.85%, following the surge in American technology from the previous day. Chip manufacturer STMicroelectronics rises by 1.12%, driven by the same trend.

The top three increases are completed by Bureau Veritas, up 1.69%. The testing, inspection, and certification group raised its 2027-2028 targets and set a one-billion-euro revenue goal in AI during its Investor Day, three years after launching its LEAP | 28 plan. CIC Market Solutions confirmed its buy recommendation, with the price target unchanged at 31 euros.

The movement extends to the industry and materials sectors. ArcelorMittal climbs 1.21% and Legrand 1.12%, illustrating a morning where cyclical and technological stocks lead the charge.

AXA and Defensive Stocks Going Against the Grain

Conversely, the decline is concentrated on a few heavyweights. AXA is down 1.54%, marking the largest drop in the index, followed by Orange, which fell 0.93%. Yet, the telecom operator announced that its Orange Ventures unit has taken a stake in Biolevate, a French startup specializing in artificial intelligence applied to healthcare.

TotalEnergies lost 0.61% amid easing crude prices: Brent has recently fallen back to around $101 per barrel, alleviated by the partial resumption of Saudi exports through the Strait of Hormuz and hopes for diplomatic progress concerning Iran. Sanofi (-0.52%) and Société Générale (-0.43%) round out the list of declines.

The bank from La Défense remains under analyst scrutiny following the presentation of its strategic plan through 2029, focused on cost control and selective growth, along with the announcement of Benoît Grisoni's appointment to merge BoursoBank and the SG network. Opinions vary: Alphavalue has downgraded to « reduce » with a target lowered to 80.60 euros, while Citi reaffirmed its buy recommendation, raising its target to 100 euros.