100% French Stocks – January 20, 2026

CAC 40 PREOPEN: 8,046 points (-0.68%)

Key Stocks of the Day

Renault (RNO): The automaker announces it will manufacture military drones at its Le Mans and Cléon plants under a €1 billion contract. It also revealed its 2025 sales, up 3.2% to 2.34 million vehicles, as the global market grew by 1.6%.

Forvia (FRVIA): The group confirms its 2025 results will be in line with its targets despite an unfavorable exchange rate effect, according to its pre-closing update.

Valneva (VLA): Withdrawal of FDA authorization requests for its Ixchiq chikungunya vaccine after its U.S. license was suspended due to a new serious adverse event.

Bigben Interactive (BIG): Revenue for the first 9 months of 2025-2026 fell by 1.7%. Forecasts revised: full-year activity now expected to be stable compared to the previous fiscal year.

Nacon (NACON): 9-month revenue down 4.4%. The publisher is aiming for comparable activity to 2024-2025. The Accessories segment in the US remains under pressure.

Oeneo (SBT): Sales drop of 10.3% in Q3 at constant exchange rates. Challenging context in the wine and spirits sector. Profitability is under watch but maintained.

Wendel (MF): In non-exclusive discussions with Henkel for a potential sale of its stake in Stahl.

Eurazeo (RF): Sells its stake in Ex Nihilo to L Catterton.

Trump vs. French wines: Donald Trump threatens to impose 200% tariffs on French wines and champagnes. Political risk to watch.

Today's Results Calendar

Before Market Open: Alstom, BigBen, Nacon, SMAIO, Bourse Direct, DMS (Diagnostic Medical Systems), Sidetrade

Analyst Recommendations

Upgrades

Amundi (AMUN) → Oddo BHF raises target from €77 to €80 (outperform confirmed)
BNP Paribas (BNP) → Goldman Sachs raises from €85 to €97 (buy confirmed)

Neutral

Eutelsat (ETL) → Morgan Stanley stays at market weight, target lowered to €2.50
Valneva (VLA) → No official change today, but situation to monitor after latest FDA news