CAC 40: Paris Loses Ground as Automotive Sector Weighs, Air Liquide Stands Out

A Tentative Session Under External Influences

The Paris stock market is trading erratically this early afternoon, following a Stoxx 600 down by 0.44% and a significantly heavier DAX (-0.81%). In the UK, the FTSE 100 is down 0.29%. The macroeconomic context weighs on investors' minds: inflation in the eurozone came in at 3.2% in May, accelerating to its highest level since 2023, driven notably by energy.

Brent crude, nearing $97 amid persistent tensions in the Middle East, sustains this cost pressure. Across the Atlantic, U.S. indices send mixed signals, with the Dow Jones up by 0.45% and the Nasdaq nearly stable. The perfect symmetry observed in Paris between gains (20) and losses (20) reflects a lack of unifying catalyst, in a session where each stock seems to be moving on its own accord.

Air Liquide, Veolia, and Publicis Shine in Rankings

Leading the CAC 40, Air Liquide rises 2.01% to 180.08 euros. The industrial gas giant announced signing a major contract with SK hynix for the construction of a dedicated nitrogen production unit at the South Korean memory chip maker's HBM plant in Cheongju. This project marks the first major integration effort following the acquisition of DIG Airgas.
Right behind, Veolia gains 1.43% to 34.79 euros. The environmental services group has completed the acquisition of the American company Clean Earth for 3 billion dollars, doubling its hazardous waste treatment activities in the United States and bringing its U.S. revenue to 6.3 billion dollars. Following this, Barclays raised its price target from 38.50 to 41 euros, reiterating an « overweight » recommendation.
Publicis climbs 1.41% to 86.28 euros, supported by Goldman Sachs' « buy » rating with a target of 110 euros. The communications group has also appointed Javier Campopiano as Chief Creative Officer of Leo Constellation. Danone (+1.09%) and STMicroelectronics (+1.07%) complete the top five, with the French-Italian semiconductor manufacturer having raised its data center ambitions to 1 billion dollars by 2026.

Auto Sector Lags Behind, Airbus and Schneider in the Red

At the opposite end of the spectrum, the automotive sector sees declines. Stellantis drops 3.15% to 6.42 euros, and Renault loses 1.71% to 27.54 euros. Both manufacturers reported a significant drop in their sales on the French market in May: -9.80% for Renault and -8.88% for Stellantis, while the overall market grew by 1%.

AXA declines by 1.58% to 39.15 euros, and Airbus slips 1.48% to 170.12 euros, impacted by the price of Brent despite the successful first flight of the A350-1000 ULR intended for Qantas.
Schneider Electric closes at the bottom of the table with a decrease of 1.46% to 282.95 euros. The distribution observed between stocks benefiting from specific news and those penalized for disappointing sectoral publications perfectly summarizes the tone of this session lacking clear direction.