CAC 40 Holds Steady at -0.23% Midday, But...

A lackluster session marked by low trading volume

The CAC 40 is down 0.23% at midday, hovering around 8127 points in a market environment characterized by caution. The range of stock movements shows a lack of conviction: 16 gainers compared to 23 decliners and one unchanged stock, indicating that investors are struggling to find a clear direction.
At the same time, gold has surpassed $5,000 per ounce for the first time, a sign that capital is flowing into safe-haven assets rather than riskier ones. This scenario illustrates ongoing prudence in European markets, as traders await stronger catalysts.

Defense and Aerospace Lead the Way as Thales Rises 2.82%

Defense and aerospace stocks are standing out this Monday. Thales shares are up 2.82% by midday on January 26, reaching 258.50 euros, confirming the sector's strength amid ongoing geopolitical tensions. Safran follows with a 1.44% increase to 310.4 euros, while Legrand is up 1.95% to 127.95 euros. TotalEnergies rounds out the leading group with a 1.29% rise to 57.98 euros, buoyed by the rebound in oil prices. Veolia Environnement gains 0.97% to 30.25 euros, closing out the list of increases. These performances contrast with the rest of the market, indicating a clear sectoral shift toward defensive and industrial stocks.

Construction and Luxury Weigh on the Index

Conversely, the construction and luxury sectors are experiencing another session of decline. Saint-Gobain recorded the largest drop of the day, falling 1.86% to 83.2 euros, continuing its downward trend over several weeks. Kering fell 1.82% to 274.95 euros, still affected by uncertainties over luxury goods demand. Bouygues lost 1.74% to 44.49 euros, while Axa decreased by 1.51% to 37.71 euros. Accor rounded out the largest declines, down 1.38% to 46.51 euros. These movements highlight a sectorial rotation unfavorable to cyclical and luxury stocks, in an environment where investors are favoring more defensive sectors.