CAC 40 Stalls Amid Shock from Wall Street Following Jensen Huang's Resignation

A Cautious Session Following Global Tech Turbulence

The atmosphere remains cautious this Friday on the Paris Stock Exchange. The news of the day comes from across the Atlantic: the resignation of Jensen Huang, co-founder and emblematic figure of Nvidia, announced on Thursday, November 12, has caused unease across the entire AI sector. CFO Colette Kress is temporarily leading the group.

This governance upheaval at the heart of the AI ecosystem has spread to the markets. At Thursday night's close on Wall Street, the S&P 500 dropped 0.35%, the Dow Jones 0.36%, and the Nasdaq 100 by 0.30%. In Asia, the trend continued: the Hang Seng fell 1.55% at the day's close in Hong Kong, while the Nikkei 225 held firm, rising 0.53% at the close of the Tokyo session.

Adding to this backdrop is a tense bond climate in France, where the yield on the 10-year government bond (OAT) hovers at high levels and the spread with the German Bund remains over 140 basis points, amid persistent budgetary uncertainties. In Europe, major indices remain flat at midday.

STMicroelectronics and Energy Boost the Market

Despite the prevailing nervousness, several Paris stocks are standing out. Leading the pack, STMicroelectronics is up 1.89% at 43.14 euros. The semiconductor manufacturer also announced that its CEO, Jean-Marc Chéry, will speak on November 19 at a Morgan Stanley conference dedicated to technology.

Oil is another driver of the session. While Brent maintains around 95 dollars a barrel amidst fluctuating conditions in the Middle East and around the Strait of Hormuz, TotalEnergies gains 1.39%, reaching 81.75 euros.

Defensive and consumer stocks are also moving upward. Carrefour advances by 0.86%, while Danone rises by 0.81% to 69.46 euros. The food group finalized the acquisition of Australia's MADE Group on November 12, a portfolio of protein drinks and health nutrition products generating over 300 million euros in sales. EssilorLuxottica also gains 0.81%.

Luxury and Aerospace Weigh on the Index

On the downside, the luxury sector sets the tone. Kering drops 2.05% to 185.37 euros, marking the largest decline in the CAC 40 by midday. Industrial stocks are also under pressure: ArcelorMittal loses 1.90% and Saint-Gobain 0.90%.

The aerospace sector also suffers. Safran falls 1.60%, while Airbus declines 0.89% to 206.40 euros. This outcome comes despite Airbus announcing a new firm order from Cathay for 14 additional aircraft, including eleven A330-900s and three A321neos, as part of the Hong Kong airline's fleet modernization program.

The dispersion illustrates the indecisive nature of the session: by midday, the Parisian index has twenty stocks up, nineteen down, and one unchanged. This balance reflects the cautious stance of investors, torn between U.S. news, the local climate, and the resilience of a few domestic heavyweights.