Paris Stocks Slip as Healthcare, Utilities and Consumer Goods Weigh on Market

French equities finished lower after the close on Friday, with the CAC 40 down 0.47% and the broader SBF 120 off 0.42%. Gains in a handful of consumer and exchange-related stocks were outweighed by declines in healthcare, utilities and consumer goods, while market volatility measured by the CAC 40 VIX reached a new 52-week high. Commodities and foreign exchange moves included higher gold and oil prices and a small drop in the US Dollar Index Futures.

Key Points

The CAC 40 closed down 0.47% and the SBF 120 lost 0.42% after the Paris session ended on Friday.
Top CAC 40 gainers included Pernod Ricard (PERP), Stellantis (STLAM) and Euronext (ENX); notable decliners included EssilorLuxottica (ESLX), Engie (ENGIE) and Societe Generale (SOGN).
Commodity and FX moves included higher gold and oil prices, with Gold Futures up 1.11% and April crude up 2.18%, while the US Dollar Index Futures edged lower.

Paris equities ended the session in negative territory on Friday, as selling pressure in the Healthcare, Utilities and Consumer Goods sectors drove the headline indexes lower.

At the close in Paris, the CAC 40 lost 0.47% while the SBF 120 fell 0.42%.

On the CAC 40, Pernod Ricard SA (PERP) was the leading gainer, finishing up 2.87% - an increase of 2.18 points - to close at 78.26. Stellantis NV (STLAM) followed with a 2.23% rise, adding 0.15 points to end at 6.93. Euronext (ENX) also posted a notable advance, up 2.19% or 3.00 points to finish at 140.00.

Turning to the session's decliners, EssilorLuxottica SA (ESLX) was the weakest name on the CAC 40, sliding 5.89% or 14.10 points to close at 225.20. Engie SA (ENGIE) retreated 2.03%, losing 0.60 points to trade at 28.93, while Societe Generale SA (SOGN) fell 1.91% or 1.44 points to end the day at 73.86.

Within the SBF 120, Clariane SE (CLARI) led gains with a 7.56% advance, finishing at 4.07. Nexity (NEXI) rose 4.21% to settle at 9.54 and Biomerieux SA (BIOX) gained 3.73% to close at 100.00.

At the lower end of the SBF 120, Viridien SA (VIRI) declined 9.39% to 109.10. Ubisoft Entertainment (UBIP) dropped 7.49% to end at 4.16, and Air France KLM SA (AIRF) was down 6.39% to 12.30 at the close.

Market breadth on the Paris exchange favored decliners: 265 stocks fell versus 215 advancers, and 81 issues finished unchanged.

Shares of EssilorLuxottica SA (ESLX) closed at a new 52-week low, slipping 5.89% or 14.10 points to 225.20.

The CAC 40 VIX, the measure of implied volatility for options on the CAC 40, was unchanged at 18.96, marking a new 52-week high.

In commodities trading, Gold Futures for April delivery rose 1.11% or 57.54 to $5,251.74 a troy ounce. Crude oil for April delivery increased 2.18% or 1.42 to $66.63 a barrel, while the May Brent oil contract climbed 2.17% or 1.54 to trade at $72.38 a barrel.

In foreign exchange, EUR/USD was essentially flat, unchanged at 1.18 (0.20%), and EUR/GBP was also little changed at 0.88 (0.46% unchanged). The US Dollar Index Futures was down 0.17% to 97.57.

Risks

Rising implied volatility - the CAC 40 VIX reached a 52-week high at 18.96, indicating greater option-implied uncertainty for equity investors - this could affect strategies sensitive to volatility, particularly in financials and derivatives exposure.
Concentrated declines in specific sectors such as Healthcare, Utilities and Consumer Goods may pressure stocks in those sectors, as shown by large moves in names like EssilorLuxottica (ESLX) and Engie (ENGIE).
Weak breadth on the exchange, with more decliners than advancers (265 vs. 215), suggests limited participation in the day's gains and potential downside risks for broader market sentiment.

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Key Points

Risks

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