The CAC 40 closes up by 0.80%, with Eurofins Scientific leading the gains

Eurofins Scientific Takes the Lead, Backed by Bernstein

Eurofins Scientific emerged as the top performer in the CAC 40 this Thursday, with a gain of 4.05% to 61.66 euros, marking its fifth consecutive session of growth. The laboratory group benefits from a price target increase by Bernstein, which maintained its « outperform » rating while raising its target from 71.20 euros to 72.30 euros. This renewed confidence from analysts comes after the company's confirmation of its targets for 2025 and 2027, despite an unfavorable exchange rate environment. The aerospace sector also shined during this session, with Safran rising by 2.62% to 301.40 euros and Airbus up by 1.91% to 194.04 euros. The French engine manufacturer continues to benefit from strong demand for its LEAP engines, co-produced with GE Aerospace, which power the majority of Airbus and Boeing single-aisle aircraft. For Airbus, the day was highlighted by China Airlines' order for five new A350-1000s, underscoring the ongoing appetite among airlines for next-generation aircraft. Bureau Veritas rounded out the top gainers with a rise of 2.04% to 27.06 euros, while Bouygues gained 1.80% to 44.76 euros, consolidating its position following JPMorgan's upgrade last summer.

Renault under pressure, defensive stocks retreat

Conversely, Renault experienced the steepest drop in the CAC 40, falling 1.95% to 35.69 euros, marking its third consecutive session in the red. The automaker is affected by discussions regarding the EU's CO2 emission reduction targets for car fleets starting in 2035, which are proposed to be set at 90% instead of the initially planned 100%. Although this revision represents a relaxation, it is not enough to reassure investors about the automotive sector’s ability to manage the energy transition while maintaining its margins. This announcement comes at a tense time for Renault, which recently had its credit rating upgraded by S&P Global Ratings to “BBB-,” but whose margin outlook continues to be closely monitored by analysts. Accor also fell 1.01% to 47.14 euros, while Kering dropped 0.86% to 310.30 euros despite Oddo BHF initiating coverage with a “neutral” recommendation and a price target of 322 euros. The luxury group continues to struggle with weak Chinese demand and the underperformance of its flagship brand, Gucci. Veolia Environnement and Axa rounded out the group of moderate declines, dipping 0.51% and 0.39% respectively, reflecting a cautious stance on defensive stocks in an environment where interest rates remain high.

A Lighter Schedule Before the End-of-Year Break

This session marks one of the last active days before the traditional year-end lull in the financial markets. Investors are now looking toward 2026 with a blend of cautious optimism and vigilance, as geopolitical challenges remain numerous and the monetary policies of major central banks are beginning to diverge. The CAC 40, which has posted a positive annual performance of over 10% since the beginning of the year, continues to fluctuate between 7,900 and 8,300 points, reflecting a certain indecision among traders about which direction to take. The upcoming weeks will feature the release of the year's final economic indicators, including French household consumption figures and business confidence indices. On the market front, several key developments remain under scrutiny: the completion of the sale of Kering Beauté to L'Oréal, expected in the first half of 2026; the strategic partnership between Renault and Ford for the development of electric vehicles in Europe; and the order book developments of Airbus and Safran in an aviation sector that is gradually returning to its pre-crisis strength. Trading volumes are expected to decrease significantly starting next week, ushering in a period of market hibernation conducive to year-end assessments and repositioning strategies for the coming year.