CAC 40 Closes Down 1% as ArcelorMittal and Unibail Take a Hit

ArcelorMittal and Unibail-Rodamco Drag the Market Down

Steel giant ArcelorMittal experienced the steepest drop of the session, falling 4.36% to 45.81 euros. This decline came as JP Morgan downgraded its recommendation from « overweight » to « underweight » on the same day, while also drastically lowering its price target from 53.50 euros to 40 euros. This revision reflects the growing concerns within the steel sector amid an economic slowdown. The mining and metallurgical group thus serves as the weakest performer among the tracked stocks.

Thales Holds Steady as TotalEnergies and Publicis Minimize Losses

In this widespread downturn, only Thales manages to show a notable increase with a gain of 1.33% to 244.50 euros. The defense and electronics group is benefiting from the geopolitical context. TotalEnergies limits the damage with a slight advance of 0.90% to 68.61 euros, mainly taking advantage of Goldman Sachs raising its target price from 60 to 68 euros on Monday, while maintaining its « hold » recommendation. This upward revision reflects a cautious reassessment of the French oil giant in a complex energy market.

A Fragile Market Context Ahead of Upcoming Economic Events

This gloomy session highlights the persistent nervousness of investors in an environment marked by macroeconomic and geopolitical uncertainties. The scope of the correction, which particularly affects cyclical stocks and real estate, suggests an increased risk aversion among market players. Sectors most exposed to economic conditions—steel, commercial real estate, and automotive—are bearing the brunt of this wave of mistrust, while defense and energy stocks are faring better.

Whether the CAC 40 can recover in the coming sessions will largely depend on the evolution of the conflict between Iran, Israel, and the United States, as well as the tone of upcoming corporate earnings reports.