CAC 40 Gains Momentum, Boosted by STMicroelectronics and Luxury Sector

A Positive Day in Paris Despite a Tense Geopolitical Climate

Paris is moving in line with the rest of Europe: the DAX gains 0.68% to 25,066 points and the STOXX 600 advances by 0.75%, while the FTSE 100 is the exception with a slight decline of 0.12%. Across the Atlantic, the S&P 500 rises by 0.33%, the Nasdaq by 0.39%, and the Dow Jones by 0.18%, following the lead of technology stocks.

However, the session unfolds against a backdrop of ongoing concerns. The crossfire between the United States and Iran has revived fears around the Strait of Hormuz, through which nearly a fifth of the world's crude oil and LNG flowed before the war. Brent soared by approximately 5.2% to $78.02, crossing above $80 during the session, while the yields on 10-year Treasuries momentarily approached 4.6%. Meanwhile, the IMF has maintained its global growth forecast at 3.0% for 2026, highlighting a disinflationary trend that « has paused. » The dispersion in Paris reflects this caution: 22 stocks rose while 18 fell within the benchmark index.

Semiconductors, Luxury, and Banks Drive the Index

Leading the CAC 40, STMicroelectronics soars by 6.15% to 62.09 euros, driven by the investment cycle in artificial intelligence highlighted by the IMF in its July update. The Franco-Italian group is by far the best performer in the index.

The luxury sector follows with Hermès International, up 3.15% to 1,620 euros. Banking stocks are also contributing to the movement: Société Générale rises 2.90% to 73.37 euros after Morgan Stanley raised its price target from 83 to 86 euros, accompanied by a « overweight » recommendation. Eurofins Scientific (+2.33%) and Schneider Electric (+2.26%) complete the top five, with the latter benefiting from the enthusiasm for infrastructure related to electrification and data centers.

Thales, Airbus, and Stellantis Struggling

Conversely, Thales experiences the sharpest decline in the CAC 40, down by 3.25% to 226.10 euros. The defense group is penalized despite UBS maintaining a buy recommendation, although it lowered its price target from 390 to 330 euros. Capgemini falls 1.94% to 89.14 euros, as Citi also reduced its target from 160 to 130 euros, while retaining a positive outlook.

Pernod Ricard loses 1.62% to 63.12 euros, in a spirits sector still facing a sluggish consumption environment. Airbus declines by 1.32% to 194.76 euros, despite announcing a contract to supply ten H125 helicopters to the U.S. customs and a joint venture project with MTU Aero Engines for a hydrogen engine. UBS also raised its target for the aircraft manufacturer from 210 to 236 euros. Finally, Stellantis drops 1.30% to 4.63 euros, impacted by downward revisions of several price targets: JP Morgan lowered its target from 10 to 6 euros, and Citi from 7.20 to 5.50 euros, while maintaining a neutral stance.