Contained volatility but underlying tensions: the CAC 40 holds strong despite a climate of global uncertainty!
Recession predictions are fading, markets are clinging to fundamentals... and betting on the unpredictable. A cautious opening in a still tense macroeconomic environment.
PREOPEN CAC 40: 7,788 pts (+0.35%)
Macroeconomic context:
- Investors are digesting the delayed expectations for rate cuts in the US: the first may not come until October.
- The US macro dominates: PMI + tariff offensive from the White House on June 4 (deadline for counter-proposals).
- In Europe, low volatility: the Stoxx 600 remains steady after a streak of lackluster sessions.
- In the US, Nvidia continues to pull the Nasdaq100 (+0.8%), reclaiming the crown from Microsoft.
Key stocks of the day
- Carrefour (CA): Sells 7% of Carmila via accelerated placement
- Airbus (AIR): Beijing reportedly considering a massive order
- EssilorLuxottica (EL): Issues €1bn in bonds at 2.625% (2030)
- Kalray (ALKAL), Orange (ORA), Ekinops (EKI): Winners of a tech project call
- Rémy Cointreau (RCO): Drops its 2030 forecasts
- Worldline (WLN): Issues €500m in bonds at 5.5% (2030)
- EPC Groupe: Acquires Brazilian Pirobras
- Exosens: Placement at €43.50 per share completed yesterday
- Abeo (ABEO): Launches a takeover bid for Vogo (shares + cash)
- Amoéba (AMEBA): Distribution agreement with Koppert for a biofungicide
- Global Bioenergies (ALGBE): Looking for a buyer
Corporate results expected today
Rémy Cointreau, Abeo
Analyst recommendations (France only)
Recommendation changes
Upgrades
Engie (ENGI): Overweight maintained by JP Morgan, target raised to €23
NN Group (NN): Raised from neutral to overweight by JP Morgan, target at €70
Neutral
Kering (KER): Neutral maintained by Oddo, target cut to €171
LVMH (MC): JP Morgan stays neutral, target adjusted to €540
Downgrades
Sanofi (SAN): Kept at hold by TD Cowen, target lowered to €99
Solvay (SOLB): Overweight maintained by JP Morgan, but target cut to €36
Your opinion? Which stocks will you watch today?
Share in the comments and let’s discuss!
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Have a great trading session, everyone!
Sylvain Mouilhaud: Stock Coach.
