Shares on the Paris bourse finished higher on Thursday, led by advances in Industrial issues, Consumer Goods and Technology Hardware & Equipment names. At the close, the CAC 40 index rose 0.44% to reach what the market recorded as a new three-month high, while the broader SBF 120 climbed 0.32%.
Within the CAC 40, Legrand SA (EPA:LEGD) was the session's strongest performer, gaining 5.00% or 7.25 points to finish at 152.25. Luxury group Kering SA (EPA:PRTP) added 4.40% or 11.65 points to close at 276.55. STMicroelectronics NV (EPA:STMPA) also posted a notable advance, up 4.19% or 2.73 points to 67.89 at the bell.
Not all large-cap names participated in the rally. Capgemini SE (EPA:CAPP) was the weakest on the CAC 40, sliding 8.87% or 8.66 points to end the day at 89.00. Grocery retailer Carrefour SA (EPA:CARR) declined 6.17% or 1.01 points to close at 15.43. Stellantis NV (EPA:STLAM) fell 3.65% or 0.21 points to 5.57.
On the SBF 120, the winners were led by Edenred SA (EPA:EDEN), which surged 17.17% to 24.23. Legrand again featured among the top performers on the wider index, rising 5.00% to settle at 152.25, and Air France KLM SA (EPA:AIRF) recorded a 4.57% gain to finish at 12.58.
The weakest names on the SBF 120 included Alten SA (EPA:LTEN), down 9.00% to 57.15 in late trade, and Capgemini, which lost 8.87% to settle at 89.00. Eutelsat Communications SA (EPA:ETL) declined 7.01% to 2.38 at the close.
Market breadth on the Paris exchange favored falling shares: 294 stocks retreated versus 165 that advanced, with 87 securities unchanged.
Volatility measures showed movement in options pricing: the CAC 40 VIX, which reflects implied volatility for CAC 40 options, was recorded unchanged at 18.96 and noted as a new 52-week high.
Across commodities and currencies, Gold Futures for August delivery were reported down 3.08% or 134.73 to $4,246.67 a troy ounce. Crude oil prices also fell on the session, with July delivery declining 2.77% or 2.13 to $74.66 a barrel, while the August Brent contract slipped 2.38% or 1.89 to $77.66 a barrel.
In currencies, EUR/USD was essentially flat, recorded unchanged at 0.30% to 1.15, while EUR/GBP was listed unchanged at 0.21% to 0.87. The US Dollar Index Futures advanced 0.67% to 100.54.
Summary of notable movers
- Top CAC 40 gainers: Legrand SA (EPA:LEGD) +5.00%; Kering SA (EPA:PRTP) +4.40%; STMicroelectronics NV (EPA:STMPA) +4.19%.
- Largest CAC 40 decliners: Capgemini SE (EPA:CAPP) -8.87%; Carrefour SA (EPA:CARR) -6.17%; Stellantis NV (EPA:STLAM) -3.65%.
- Top SBF 120 moves: Edenred SA (EPA:EDEN) +17.17%; Alten SA (EPA:LTEN) -9.00%; Eutelsat Communications SA (EPA:ETL) -7.01%.
Market breadth and indicators
Declining issues outnumbered advancing ones by 294 to 165, with 87 stocks unchanged. The CAC 40 VIX was unchanged at 18.96, which the market recorded as a 52-week high, indicating elevated implied volatility for the index's options.
Key points
- Equity indices: The CAC 40 rose 0.44% to a three-month high; the SBF 120 added 0.32% - positive movement for French large-cap and mid-cap benchmarks.
- Sectors: Gains centered on Industrials, Consumer Goods and Technology Hardware & Equipment, supporting select large-cap moves.
- Commodities & FX: Gold and crude oil prices fell on the session, while the US Dollar Index Futures strengthened.
Risks and uncertainties
- Concentration of declines: A number of large-cap stocks posted sharp losses, including Capgemini, Carrefour and Stellantis, which may affect sector sentiment across Professional Services, Consumer Staples and Automobiles.
- Volatility: The CAC 40 VIX at a 52-week high suggests heightened implied volatility in options markets, introducing uncertainty for equity positions.
- Commodity price weakness: Declines in gold and crude oil prices create uncertainty for related sectors, including energy and materials.
The session closed with mixed signals: headline indices were up modestly while market breadth and several notable individual stock movements highlighted areas of stress and strength across the Paris market.