100% French Stocks – Monday, October 6, 2025

CAC 40 PREOPEN: 8,060 points (-0.19%)

The CAC 40 is trending slightly lower this morning, amid ongoing pressure from long-term interest rates in Europe and the United States. Investors are also digesting the latest US macroeconomic releases and the first European quarterly reports.

Key Stocks of the Day

Renault (RNO): The automaker is considering a plan to simplify its structures amid ongoing market uncertainty. According to L’Informé, a 3,000 job cut project is being considered in support functions, but no decision has been made yet. At the same time, the group reported a net loss of €11.18bn in H1, due to a writedown of its Nissan stake. Excluding the Nissan impact, net profit is €461m. Renault also appointed François Provost as its new CEO, succeeding Luca de Meo.

Dacia (Renault Group): The budget brand unveiled its Hipster Concept, a mini electric car under €15,000, designed entirely for urban mobility. Goal: affordable electrification.

Seb (SK): The group sharply cut its 2025 guidance. Organic growth will be flat to slightly positive (vs. +2% to +4% expected), with ROA between €550m and €600m (vs. €700m to €750m). Europe is slowing down; the US is suffering from retailer caution. Good performances in Asia and South America are not enough to offset. Q3 sales are expected to decline. Full results are scheduled for October 23 after the close.

Euronext (ENX): The group has obtained all regulatory approvals for its takeover bid on ATHEX, the Athens Stock Exchange. This acquisition aims to integrate the Greek market into a network of over 1,800 listed companies. Stock offer on the basis of 1 Euronext share for 20 ATHEX. A strategic step toward an integrated European capital market.

Stellantis (STLA): The automaker plans $10bn in investments in the United States, according to Bloomberg.

Airbus (AIR): Set a new delivery record in September with 73 planes delivered during the month.

EssilorLuxottica (EL): Increased its stake in Nikon to 10.59% of the capital.

Edenred (EDEN): Launched a new share buyback program.

Thales (HO): The group is mass-producing the Ground Fire radar for the SAMP/T NG system. 8 radars will be delivered to France starting in 2026. An industrial ramp-up for European sovereignty.

Inmobiliaria Colonial (COL): Completed the merger-absorption of Société Foncière Lyonnaise.

Coil (ALCOI): €1.3m capital increase.

Transgene (TNG): Will present new clinical data on TG4050 at the SITC conference in the US in November. Very promising results with patients in two-year remission in Phase I.

Company Results Expected Today

LDC SA (LOUP): Release of Q2 2026 activity update (turnover).

Analyst Recommendations (French companies only)

Upgrades

Nanobiotix (NANO) → Jefferies remains at Buy, target raised from €8 to €21.
Aperam (APAM) → Jefferies remains at Hold, target raised from €28 to €33.

Neutral

LVMH (MC) → Citi maintains at Buy, but adjusts target from €635 to €630.
Pluxee (PLX) → Jefferies remains at Hold, target reduced from €20.80 to €17.
Publicis (PUB) → JP Morgan remains at Overweight, target adjusted from €133 to €131.
Vinci (DG) → BNP Paribas Exane maintains at Outperform, target reduced from €140 to €139.
Aéroports de Paris (ADP) → BNP Paribas Exane remains at Outperform, target reduced from €144 to €141.

Downgrades

Kering (KER) → Goldman Sachs maintains its Sell recommendation, despite a target raised from €160 to €180.

Have a great session everyone!
Sylvain Mouilhaud: Equity Coach.