100% French Stocks – January 21, 2026

CAC 40 PREOPEN: 8,073 points (+0.13%)

Markets are digesting a double bond market tension: yields are soaring in both the United States and Japan, amid sovereign doubts and geopolitical tensions. Wall Street recorded its worst session since October. Europe opens cautiously, slightly in the red.

Key Stocks of the Day

Alstom (ALO): The rail group posted higher Q3 revenue, supported by strong business momentum. Order intake is also showing a sharp increase.

Kering (KER): Bartolomeo Rongone, CEO of Bottega Veneta, is leaving the group to become the head of Moncler.

L’Oréal (OR): The group is investing more than €330M to establish a tech hub in Hyderabad (India).

Safran (SAF): Titanium waste recycling for circular production.

Vinci (DG): Traffic at Vinci Airports is expected to rise by 5% in 2025.

Audacia (ALAUD): Capital increase of €8M at €4.05 per share.

Enogia (ALENO): 10.4% of capital reclassified via private placement – free float now at 51.7%.

MAAT Pharma (MAAT): First patient enrolled in phase II for Maat033 in lung cancer.

Results Calendar

Scheduled French publications:

La Française de l'Énergie
Sidetrade
UV Germi
Catering International Services

Analyst Recommendations (France only)

Upgrades

Air France-KLM (AF) → RBC initiates at Sector Perform, target €11.50
Nexans (NEX) → Barclays upgrades from Underweight to Equal Weight, target €137

Neutral

Alstom (ALO) → AlphaValue/Baader Europe maintains Buy, but adjusts target from €34.20 to €34.10
Euronext (ENX) → Citi remains Neutral, target lowered from €139 to €136
Technip Energies (TE) → Morgan Stanley remains at Market Weight, target reduced from €35 to €32.20
Scor (SCR) → Goldman Sachs downgrades from Buy to Neutral, target €29