Paris Stock Exchange: Oil and Geopolitical Tensions Cause Market Unease

A session marked by widespread nervousness

By midday, the atmosphere at Euronext Paris is that of a market on edge. Among the 40 stocks in the leading index, 29 are in the red, only 10 are advancing, and one remains stable. This clear imbalance reflects widespread caution, fueled by a turbulent international context.

The surge of the VIX, an indicator of expected market volatility, illustrates this tense climate: at 29.49, it has jumped over 24% and is holding in a zone described as « tense » by traders. In Europe, Germany's DAX is down 1.39% during the session, London’s FTSE 100 is retreating by 0.82%, while India's Sensex closed down 1.72%. The only outlier is Japan's Nikkei 225, which ended the session up 1.43% in Tokyo.

In the background, oil markets remain at the forefront of concerns. Crude prices have seen exceptional volatility in recent days, with intraday swings of around 30%, a rare phenomenon. Succession in Iran, with the appointment of Mojtaba Khamenei to succeed his father, has added a significant layer of geopolitical uncertainty, while G7 countries announced on Monday they are prepared to tap into their strategic oil reserves to curb soaring prices. This mix of contradictory signals—between hopes of normalization and risks of escalation—keeps traders in a cautious and nervous stance.

Renault, Capgemini, and BNP Paribas Stand Out

In this predominantly bearish context, a few stocks manage to stand out. Renault leads the rankings with a rise of 2.38% to 28.84 euros, followed by Capgemini, which increases by 1.61% to 107.05 euros. The banking sector also holds up, supported by BNP Paribas, which gains 1.09% to 89.33 euros.

TotalEnergies, directly impacted by the fluctuations in the oil markets, advances by 0.90% to 69.36 euros. The oil group benefits automatically from the maintenance of high crude prices, in a situation where global supply uncertainty remains high. Veolia rounds out the list of gains with a modest increase of 0.36% to 33.25 euros.

However, these advances remain isolated within an index largely trending downward, and are not enough to reverse the overall trend of the session.

Defense and Aerospace Stocks Lead the Declines

On the downside, the defense and aerospace heavyweights are experiencing the most significant declines. Thales shows the largest drop in the CAC 40, falling 1.72% to 246.20 euros. Safran follows closely with a decrease of 1.46% to 316.30 euros. Airbus, with the third largest decline, loses 1.01% to 176.10 euros amid an already tense operational environment: the European manufacturer delivered only 35 aircraft in February 2026, alongside 28 gross orders. Meanwhile, Airbus Helicopters announced a contract for 18 Flexrotor drones with Garuda Technologies, yet this news did not boost the stock price.

Outside the aerospace sector, Unibail-Rodamco-Westfield drops 0.96% to 96.66 euros, and L'Oréal falls 0.91% to 359.75 euros, confirming that selling pressure extends well beyond a single sector.

By midday, the Paris Stock Exchange reflects a market navigating blindly amid oil turbulence and geopolitical uncertainties, awaiting elements that could clarify the always-cloudy horizon.