CAC 40: the market rises above 8,100 points

The CAC40 is trading positively at midday, rising above the 8,100 level to 8,115 points (+0.30%). The trend is driven by expectations of progress on the Iranian issue. According to a high-level source cited by Reuters, no formal agreement has been reached with Washington yet, although the differences between the positions are narrowing. U.S. Secretary of State Marco Rubio also mentioned signs of improvement in the negotiations.

In the bond market, pressure remains high on U.S. rates, still close to their highest levels since 2007 on the 30-year maturity. The latest minutes from the Federal Reserve confirm a more restrictive stance, with a growing number of officials in favor of a rate hike, fueling the idea of a less accommodative monetary cycle than expected.

On the macroeconomic front, Germany confirms a 0.3% GDP growth in the first quarter of 2026, in line with the initial estimate. This growth mirrors the previous quarter, indicating a stable momentum for the leading economy in the eurozone.

In the U.S., the afternoon agenda will be dominated by the Conference Board’s leading economic indicators index and the University of Michigan’s final consumer confidence index.

The euro/dollar exchange rate is around 1.16$, while Brent is at 106$ and gold is trading at $4,515 per ounce.

Stocks

Nanobiotix is up by 11%, followed by Maat Pharma (+10%) rebounding after a recent decline, as well as Ubisoft and OSE.

Parrot gains 9%, along with Ekinops (+6%), Atos (+5%), and Soitec.

X-Fab advances by 3.5%, along with Vusion, STMicroelectronics, Exail, and Inventiva.

Compagnie des Alpes is up by 3.5%. The group reported a semi-annual turnover of 883 M€, up by 3.9% year-on-year and by 3.1% on a comparable basis. EBITDA reached 328 M€, a 5% increase, with a margin rate of 37.1%. Net profit attributable to the group stands at 145 M€, up by 7.7%.

Genfit gains 2.5%. The company has cash reserves of 136.1 M€ as of March 31, 2026, compared to 129.5 M€ a year earlier. It benefited from a milestone payment of 17 M€ related to its partnership with Ipsen and a financing agreement revenue of 30 M€. Quarterly revenue reached 9.6 M€ compared to 2.8 M€ a year earlier.

Forvia is up by 2.5%, alongside Exosens and Verallia.

Stellantis advances by 2.2%. The group outlined its objectives for 2030 in its FaSTLAne plan, aiming for 190 billion € in revenue, a 7% operating margin, positive industrial free cash flow by 2027 and 6 billion € in 2030, as well as a cost reduction of 6 billion € by 2028.

Declining Stocks

Innate Pharma drops by 10%, followed by Viel (-3%) and Poxel (-2.5%).

Elior loses 2%. The group adjusted its annual targets after a warning, with organic growth expected between 1% and 2% compared to 3% to 4% previously, EBITA margin around 3%, and a leverage ratio close to 3.5x. Several analysis firms have revised their targets.

Eutelsat declines by 1.5%, along with SES.

Guerbet falls by 1%, as well as M&P, TotalEnergies, North Atlantic, and Kering.

Medincell is down by 1%, despite the EMA’s acceptance of the marketing authorization application for its TEV-749 treatment developed with Teva.

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