CAC 40 Hesitates Around 8,160 Points; Société Générale Leads the Way

Paris Market Wavers Amid Declining Brent

The Paris Stock Exchange is struggling to find direction. The CAC 40 is hovering around equilibrium, slightly leaning toward the buying side. The disparity among stocks reflects this indecision: 18 stocks are rising while 22 are declining within the main index.

In the background, oil is setting the tone. On Tuesday evening, Brent crude slipped below the $100 per barrel mark for the first time since September 8, amidst hopes for talks between Washington and Tehran on the sidelines of the UN General Assembly. Additionally, Saudi Arabia is redirecting around 4 million barrels per day to the port of Yanbu to bypass the Strait of Hormuz. This initial easing on the supply front slightly reduces the pressure, without dispelling geopolitical uncertainty, as Donald Trump calls for a « complete economic isolation » of Iran.

Banks in the Spotlight, Safran Bolstered by Its Technological Bets

At the top of the leaderboard, Société Générale gains 1.73%, reaching 73.44 euros. The bank is reaping the benefits of its strategic plan through 2029, focused on cost control and selective growth, approved by its board of directors on September 18. Additionally, the group announced the appointment of Benoît Grisoni, CEO of BoursoBank, to better integrate the online bank with the SG network starting October 1. JP Morgan has raised its target price from 81 to 83 euros, while maintaining a neutral opinion.

The banking sector is driving the rest of the market: Crédit Agricole gains 0.86%, reaching 18.27 euros. In aerospace and defense, Safran rises by 0.87%, to 334.90 euros, after its acquisition of a stake in Akira, a propulsion technology specialist, through its subsidiary Safran Corporate Ventures. EssilorLuxottica (+0.83%) and Euronext (+0.63%) round out the top five.

Luxury and Telecoms Weigh Down the Index

Conversely, Kering records the steepest drop in the index, down 2.09% to 227.15 euros, without any identified catalyst. The luxury giant weighs on the Parisian trend in a sector that remained sidelined from the slight uptick of the day.

Orange declines by 1.11% to 14.24 euros, despite the announcement of a stake acquisition by Orange Ventures in Biolevate, a French startup specializing in artificial intelligence applied to life sciences. Real estate company Unibail-Rodamco-Westfield falls by 1.07%, while Stellantis (-0.86%) and Pernod Ricard (-0.82%) are also among the main decliners. A mixed picture that reflects the lack of clear direction this morning.