CAC 40 Reaches New Monthly High, Luxury Sector Leading the Way

A session driven by Wall Street and dominated by the market heavyweights

The Parisian trend remains positive since the opening. Twenty-nine CAC 40 stocks are rising, nine are falling, and two are stable: the increase is broad, supported mainly by the largest capitalizations. The momentum is notably driven by the significant drop in Brent crude, which has fallen back to 92 euros, as well as influence from across the Atlantic. By the close on Wednesday, November 11, on Wall Street, the Nasdaq 100 had jumped by 2.28%, the S&P 500 by 1.31%, and the Dow Jones by 0.49%, a rebound in technology stocks that has revived risk appetite. In Europe, the trend is shared: the DAX is up 0.77% during the session, the STOXX 600 is up 0.38%, and the FTSE 100 is up 0.37%.

This bright spot occurs against a background in France that remains challenging. On Thursday, the Senate begins examining the 2027 finance bill, with the aim of salvaging a text rejected the previous week by the National Assembly. The government faces the alternative of potentially using Article 49.3 or ordinances to ensure a budget is in place for 2027, as Fitch has maintained France's rating but downgraded its outlook from stable to negative. Despite this backdrop, domestic stocks are participating in the rise this morning.

Luxury Leads, Saint-Gobain and Sanofi Follow

At the top of the rankings are the luxury giants. LVMH demonstrates the best performance in the index with a gain of 1.98%, reaching 411.10 euros. Hermès follows closely (+1.85%, at 1,378.50 euros), while Kering advances by 1.38% to 191.90 euros. The sector, which is very sensitive to major American indices, benefited from a renewed wave of global optimism.

Behind the luxury sector, Saint-Gobain stands out with an increase of 1.91% to 76.94 euros. The pharmaceutical company Sanofi rounds out the top four (+1.56%, at 87.96 euros). The range of increases, spanning construction materials, healthcare, and luxury, confirms the broad nature of the day's progress.

Euronext and Thales Buck the Trend

Declines are few and modest. Euronext leads the way down with a 1.19% drop, closing at 165.40 euros. Thales follows (-0.56% at 229.10 euros), along with Stellantis (-0.50%) and EssilorLuxottica (-0.49%). Thales continues to be active in industry news: the group announced it will deliver its GM200 MM/C radars to Belgium for its Blue Dome shield and is partnering with Kongsberg Maritime for the future anti-submarine drone of the Royal Navy.

STMicroelectronics, for its part, fell by 0.37% to 42.02 euros. The chipmaker stated on November 12 that its CEO Jean-Marc Chéry will speak on November 19 at a Morgan Stanley conference focusing on European technology. Overall, the map of declines remains limited and does not affect the positive trend of a session where the Paris index reached a new monthly high.