Paris Stock Exchange: CAC 40 Plummets with 38 Out of 40 Stocks Down Amid Oil Storm

A Session Marked by the Oil Shock and Geopolitical Tensions

On Monday, the Paris Stock Exchange is experiencing a session dominated by geopolitical jitters. The appointment of Mojtaba Khamenei as the successor to his father as the leader of Iran sent immediate shockwaves through the oil markets, with intraday fluctuations reaching exceptional levels. Brent and WTI jumped nearly 30% at the beginning of the session before paring some of their gains. This decision by Tehran comes in an already tense context: US President Donald Trump had publicly expressed his desire to participate in the process of selecting Iran's next leader, adding further uncertainty to diplomatic readings.

Global markets are taking a hit. The Nikkei 225 plummeted by 5.20% at the close in Tokyo. In Europe, the DAX is down 1.75% during the session, while the FTSE 100 in London is losing 1.07%. In the United States, the Dow Jones is sliding 1.64% and the S&P 500 is dropping 1.31% at the start of trading. The Hang Seng ended down 1.35% and the Indian Sensex closed with a loss of 1.71%. There is scarcely a safe haven: the movement is global and synchronous.

In Paris, the dispersion is striking. Only two stocks on the CAC 40 managed to post gains. The other 38 are in the red, with no exceptions to the across-the-board trend. The SBF 120 mirrors the same dynamic, down 1.51%.

Thales and TotalEnergies, the Two Survivors of the Day

In this sea of red, two names stand out. Thales is up 1.33% to 244.50 euros, buoyed by its defense profile in an environment marked by rising international tensions. The group, whose operations span both military systems and cybersecurity, naturally benefits from any increase in geopolitical risk.

TotalEnergies gains 0.90% to 68.61 euros. The oil giant is understandably profiting from the surge in crude prices. Additionally, Goldman Sachs has raised its price target for the stock from 60 to 68 euros, while maintaining its « hold » recommendation.

Behind these two assets, nothing else holds up. Publicis falls by 0.47%, Engie declines by 0.53%, and Euronext drops 0.77%—the most moderate declines in an index where red is the unmistakable dominant color.

ArcelorMittal penalized, real estate and consumer sectors under pressure

At the bottom of the board, ArcelorMittal experienced the largest drop in the CAC 40, declining by 4.36% to 45.81 euros. The steel giant was impacted by a significant downgrade from JP Morgan, which lowered its recommendation from « overweight » to « underweight, » while also reducing its price target from 53.50 to 40 euros—a rare signal of distrust due to its magnitude.

Commercial real estate is also struggling: Unibail-Rodamco-Westfield fell 3.86% to 94.04 euros. Accor, in the hospitality sector, dropped 3.39% to 41.86 euros. Both stocks, exposed to consumer cycles, are suffering from the macroeconomic uncertainty fueled by soaring energy prices.

The automotive sector is not spared either. Stellantis fell 2.85% to 6 euros, a level illustrating the persistent difficulties faced by the manufacturer. L'Oréal, on its part, lost 2.82% to 360.45 euros, driven down by the widespread retreat in consumer stocks.

This March 9th session will be remembered for a rare conjunction: a major geopolitical shock in the Middle East, historic oil volatility, and an almost unanimous decline in Parisian stocks. Only the defense and energy sectors are managing to hold their own in a market decidedly turning its back on risk.