CAC 40 Holds Strong Despite Semiconductor Slide and Wall Street Downturn

A Parisian Session Under American Pressure

Paris has stood out as a disciplined performer in an otherwise tense stock market environment. While the CAC 40 limited its losses, the German DAX dropped 0.75% at the close and the STOXX 600 slipped 0.29%. Across the Atlantic, the mood turned decidedly negative: the Nasdaq tumbled by over 3%, the S&P 500 fell 1.84%, and the Dow Jones lost 0.86% during the session. This selling wave spread from Asia, where the Hang Seng plummeted 2.62% and the Nikkei 2.65%. In London, the FTSE 100 (+0.07%) was an exception, closing slightly in the green, supported by its more defensive composition.

In this charged context, the Paris market showed rare resilience, buoyed by a well-balanced distribution: 21 CAC 40 stocks ended in positive territory versus 19 in the red. Against this backdrop, markets are digesting Donald Trump's statements regarding a potential agreement with Iran over the weekend, while Tehran dampens American optimism by setting its own conditions. This diplomatic wrangling weighs on risk appetite but doesn't trigger panic in Paris.

Luxury and Defensive Stocks Stand Out

At the top of the rankings, Hermès International saw a rebound of 2.31% to 1,619 euros. The luxury goods maker reaffirmed the international reach of its expertise with the construction of a new John Lobb factory in Northampton by 2029. Retail followed with Carrefour, rising 2% to 16.30 euros, after the success of its 750 million euro bond operation maturing in 2034. The healthcare sector also showed gains: Sanofi increased by 1.98% to 77.95 euros, as the pharmaceutical group launched its employee share ownership plan, Action 2026. Pernod Ricard (+1.6% to 62.10 euros) and Euronext (+1.5% to 142.20 euros) complete this leading quintet. The defensive tone of these gains indicates a clear rotation towards core portfolio stocks.

Semiconductors and Industry Pay the High Price

The bottom of the table tells a completely different story, dominated by the technological downturn. STMicroelectronics plunged 5.85% to 62.82 euros, suffering from the general decline in chip manufacturers following the Nasdaq's drop. ArcelorMittal followed, down 4.70% to 59.22 euros, with steel affected by concerns over the global economic situation.
Schneider Electric fell 4.54% to 269.05 euros on the same day the energy management specialist launched an 800 million euro Oceane due 2034, coupled with the repurchase of the 2030 bond. Stellantis (-3.02% to 6.23 euros) and Legrand (-2.41% to 143.80 euros) round out the bottom of the table, reflecting a wave of mistrust impacting the cyclical industry and equipment manufacturers.
A session illustrating the renewed caution among investors in the face of the dual challenge of persistent geopolitical tensions and disruptions in the American tech sector.