CAC 40 Stagnates, Société Générale Soars

A Dispersed Session Under Geopolitical Influence

The Parisian index inches forward, aligned with its previous day's benchmarks. The landscape is dominated by the surge in oil prices: Brent crude jumped about 3.4% on Thursday, closing at $106.60, following a ballistic missile attack by Yemen's Houthis on the Saudi regions of Taif and Yanbu. The Strait of Hormuz remains central to concerns, while American and Iranian negotiators in New York explore gradual de-escalation. Additionally, there is a firm monetary context: the dollar remains at a two-month high after strong American indicators, with the euro slipping towards $1.1378. In Europe, the atmosphere is better oriented than in Paris. By midday, the DAX is up 0.66%, the STOXX 600 by 0.55%, and the FTSE 100 by 0.22%. In the United States, the previous day, the S&P 500 had ended almost flat (-0.02%) and the Dow Jones gave up 0.31% at Thursday's close on Wall Street.

Banks, Steel, and Takeovers in the Spotlight

Leading the CAC 40, Société Générale jumps 3.96% to 72.64 euros, driven by mixed reviews: KBW confirms its outperform rating while lowering its target to 80 euros, whereas Alphavalue downgrades to « reduce."

The steel industry follows with ArcelorMittal, rising 2.10% to 63.30 euros. The group announced that it cannot restart its Kryvyi Rih plant in Ukraine after a series of missile strikes, resulting in a depreciation of about one billion dollars.

STMicroelectronics gains 1.80% to 45.69 euros and Accor 1.64% to 45.96 euros. Schneider Electric advances 1.50% to 294.15 euros, following the announcement of a takeover bid for Shelly Group, a Bulgarian company valued at 1.2 billion euros.

Defense and Energy in Decline

Conversely, defense weighs on the index. Airbus drops 2.57% to 189.38 euros, marking the largest decline of the day, despite the award by the Directorate General of Armaments of the Paracom contract over twenty-five years. Thales follows, down 1.51% to 228.70 euros.

Oil does not benefit TotalEnergies, which drops 1.70% to 79.67 euros, even as HSBC upgrades its recommendation to « buy » with a target price raised to 93 euros. The group, along with its Nigerian partner AMNI, has made the final investment decision for the development of the Ima gas field, with production expected in 2028.

The pharmaceutical sector also falls, with Sanofi down 1.17% to 71.26 euros, after the company and eight other industry giants called for the restoration of European pharmaceutical competitiveness. Pernod Ricard loses 0.70%. Overall, the index remains largely on the rise, with 27 stocks advancing, 12 declining, and one stable.