CAC 40 PREOPEN: 8,025 points (+0.62%)

Key Stocks of the Day

• LVMH (MC): Injects €150M to support Le Parisien / Aujourd'hui en France.

• EssilorLuxottica (EL): Reportedly in talks to acquire between 5% and 10% of Giorgio Armani (Il Sole 24 Ore).

• Ubisoft (UBI): Finalizes its strategic agreement with Tencent, secures €1.2B.

• Chargeurs (CRI): Will sell its Novacel subsidiary to American fund KPS Capital Partners.

• Waga Energy (WAGA): AMF approves simplified tender offer by EQT.

• Vranken-Pommery (VRAP): Pompadour brand licensing agreement by La Compagnie Vranken.

• ONWARD Medical (not listed in France): Strong Q3 results with FDA approval and CE marking for its medical devices.

• Inventiva (IVA): €4.5M revenue over 9 months of 2025, thanks to license payments with CTTQ. Cash reserves strengthened to €97.6M.

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Company Results Expected Today

(No major results expected today in France)

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Analyst Recommendations (French companies only)

**Recommendation Changes**

On the rise

Crédit Agricole (ACA) → Morgan Stanley keeps "Equal-weight", target raised from €18 to €19

Société Générale (GLE) → Morgan Stanley confirms "Overweight", target adjusted from €68 to €69

Ubisoft (UBI) → Gilbert Dupont maintains "Accumulate", target raised from €7.10 to €7.70

Amundi (AMUN) → Morgan Stanley confirms "Equal-weight", target raised from €70.80 to €82.10

Vicat (VCT) → Citi maintains "Hold", target raised from €63 to €69

Neutral

Sodexo (SW) → Barclays keeps "Equal-weight", target cut from €63 to €51

Vinci (DG) → Barclays keeps "Overweight", target cut from €140 to €136

Eiffage (FGR) → Barclays maintains "Overweight", target adjusted from €145 to €140

On the decline

Soitec (SOI) → Citi confirms "Sell", target drastically lowered from €36 to €20

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Have a good session, everyone!
Sylvain Mouilhaud: Stock Coach.