PREOPEN CAC 40: 8,110 points (-0.52%)

After a sharp rebound yesterday (+0.99%), the CAC 40 is sliding slightly lower this morning. It continues to be hampered by early-week geopolitical tensions around Greenland, despite a general market easing since Trump’s announcement of an agreement with NATO, ruling out any threat of tariffs on Europe.

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Key Stocks of the Day

Michelin (ML): Finalization of the acquisition of Cooley Group, strengthening its position in industrial coated fabrics.

Sanofi (SAN): Amlitelimab confirms its potential in the treatment of atopic dermatitis.

Valeo (FR): Strategic partnership with NATIX for the development of an open source multi-camera model.

Voltalia (VLTSA): Signing of a €244.4M corporate credit to support its Spring strategic plan.

Ubisoft (UBI): AlphaValue/Baader Europe downgrades to Sell, price target lowered to €4.11.

Covivio (COV): Acquisition in Portugal of a MEININGER hotel for €31.6M.

Hoffmann Green Cement (ALHGR): €3M funding from Bpifrance for new low-carbon technology.

Charwood Energy (ALCWE): Pyrogasification project selected by GRDF.

Biosynex (ALBIO): Market authorization application in the USA for its syphilis test.

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Results Calendar

Today:
GL Events, Sword, Pierre & Vacances, Kerlink, Advicenne, Groupe Stef, Enensys, Ecoslops, Prismaflex, Bio-UV, Argan, SMAIO, STIF

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Analyst Recommendations (France)

Upgrades

ASM International (ASMI) → GS remains at Buy, target €795
BE Semiconductor (BESI) → GS remains at Buy, target €200
Forvia (FRVIA) → Jefferies remains at Buy, target €16.35
Gecina (GFC) → GS remains at Buy, target €100.50
Unibail-Rodamco-Westfield (URW) → GS remains at Buy, target €141

Neutral

Carrefour (CA) → GS stays Neutral, target €15
Covivio (COV) → GS stays Neutral, target €60.60
Ipsos (IPS) → UBS stays Neutral, target €36.70
Valeo (FR) → Jefferies stays at Hold, target €10.60

Downgrades

Ubisoft (UBI) → AlphaValue/Baader cuts to Sell, target €4.11
Danone (BN) → Barclays stays Overweight, target €83
Argan (ARG) → Barclays stays Overweight, target €71
Icade (ICAD) → GS stays at Sell, target €17.40

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Have a great trading session, everyone!
Sylvain Mouilhaud: Equity Coach