Stock Markets January 29, 2026

Paris Stocks Edge Up as Oil & Gas, Utilities and Consumer Goods Support Gains

CAC 40 posts a marginal rise while volatility index hits a 52-week peak; mixed sector performance across the SBF 120

By Priya Menon
Paris Stocks Edge Up as Oil & Gas, Utilities and Consumer Goods Support Gains

France's equity benchmarks closed marginally higher, driven by advances in Oil & Gas, Utilities and Consumer Goods. The CAC 40 rose 0.06% while the broader SBF 120 inched up 0.01%. Select large-cap industrials and consumer names outperformed, even as several technology and scientific firms recorded sharp declines. Volatility on CAC 40 options reached a new 52-week high.

Key Points

  • The CAC 40 closed up 0.06% and the SBF 120 rose 0.01%, with strength concentrated in Oil & Gas, Utilities and Consumer Goods.
  • Top gainers on the CAC 40 included Schneider Electric, Legrand and L'Oreal; major decliners included Eurofins Scientific, STMicroelectronics and Dassault Systemes.
  • Market breadth favored decliners (278 falling vs. 211 advancing) and the CAC 40 VIX hit a new 52-week high at 18.96, signaling higher implied volatility.

Paris equities finished slightly higher on Thursday as gains in the Oil & Gas, Utilities and Consumer Goods sectors provided upward momentum for the market. At the close of trading, the CAC 40 increased 0.06% and the SBF 120 rose 0.01%.

Leading the CAC 40 on the upside was Schneider Electric SE (EPA:SCHN), which advanced 2.57%, or 6.05 points, to settle at 241.40. Legrand SA (EPA:LEGD) and L'Oreal SA (EPA:OREP) also posted solid gains, with Legrand up 2.14% or 2.85 points to 135.90 and L'Oreal rising 2.01% or 7.65 points to 388.10 at the close.

On the downside, Eurofins Scientific SE (EPA:EUFI) led losses, sliding 6.26% or 4.42 points to finish at 66.20. STMicroelectronics NV (EPA:STMPA) recorded a 5.75% decline, down 1.44 points to 23.54, while Dassault Systemes SE (EPA:DAST) fell 4.26% or 1.02 points to 22.91.


The SBF 120 displayed similar divergence among its constituents. Ubisoft Entertainment (EPA:UBIP) was the top performer in that universe, jumping 6.49% to 4.71. Mersen (EPA:CBLP) climbed 5.98% to 26.60, and Derichebourg (EPA:DBG) gained 4.13% to close at 8.20.

At the opposite end of the SBF 120, Eurofins Scientific (EPA:EUFI) again posted the largest drop, down 6.26% to 66.20, followed by STMicroelectronics (EPA:STMPA) which lost 5.75% to settle at 23.54. X Fab Silicon Foundries EV (EPA:XFAB) was down 4.69% to 5.08 at the close.

Market breadth on the Paris Stock Exchange tilted toward the downside, with 278 stocks falling versus 211 advancing; 83 stocks were unchanged.

There were notable moves in share milestones: Dassault Systemes shares fell to five-year lows, ending the session at 22.91 after a 4.26% decline. Conversely, Derichebourg shares rose to three-year highs, finishing at 8.20 following a 4.13% uptick.

Volatility measures showed increased option-implied uncertainty. The CAC 40 VIX was unchanged on the day, registering 18.96 - a new 52-week high.


Commodity markets were mixed. Gold futures for April delivery fell 0.39%, a decline of 20.69, to close at 5,319.51 a troy ounce. Energy contracts were higher: crude oil for March delivery rose 3.23% or 2.04 to $65.25 a barrel, while the April Brent contract increased 2.91% or 1.96 to trade at $69.33 a barrel.

In foreign exchange trading, EUR/USD was effectively unchanged, moving 0.03% to 1.20. EUR/GBP was similarly steady, up 0.02% to 0.87. The US Dollar Index futures declined 0.15% to 96.13.


Overall, the close reflected modest positive pressure concentrated in energy, utilities and consumer sectors, while several technology and scientific names led declines. The elevated VIX reading points to higher option-implied volatility even as headline index moves remained limited.

Risks

  • Concentration of declines among technology and scientific names could weigh on momentum in the index-heavy SBF 120 and technology-linked sectors.
  • Rising implied volatility, as reflected in the CAC 40 VIX reaching a 52-week high, introduces uncertainty for equity valuations and option strategies.
  • Commodity price swings - notably the rise in crude oil and the drop in gold futures - may influence sector rotation, affecting energy, materials and consumer-related stocks.

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