Markets in Paris finished the trading week on the back foot as the CAC 40 declined 1.60%, settling at 7,952.55, a move that marked a one-month low for the benchmark. The wider SBF 120 followed suit, dropping 1.59% by the close.
Sector-level weakness was concentrated in Industrials, Basic Materials and Utilities, which collectively pressured the market. On a stock-by-stock basis, Capgemini SE (EPA:CAPP) bucked the downward trend and was the session's strongest performer on the CAC 40, rising 3.41% or 3.30 points to finish at 100.00. Dassault Systemes SE (EPA:DAST) added 1.55% or 0.31 points to close at 19.92, while Sanofi SA (EPA:SASY) rose 0.98% or 0.72 points to 73.96 in late trade.
At the other end of the index, heavyweights dragged the benchmark lower. ArcelorMittal SA (AS:MT) led the decliners on the CAC 40, losing 5.02% or 2.76 points to close at 52.24. STMicroelectronics NV (EPA:STMPA) was down 4.22% or 2.33 points to 52.83, and aerospace and defense supplier Safran SA (EPA:SAF) fell 4.17% or 11.80 points to finish at 271.40.
Performance on the broader SBF 120 mirrored the CAC 40’s mixed picture. Worldline SA (EPA:WLN) was the best performer, jumping 6.06% to 0.28. Teleperformance SE (EPA:TEPRF) climbed 4.72% to settle at 69.68, while Capgemini held its gains as noted above. Conversely, Eramet SA (EPA:ERMT) fell 7.01% to 55.70, Eutelsat Communications SA (EPA:ETL) slipped 6.60% to 2.82 and SES (EPA:SESFd) declined 6.60% to 7.57 at the close.
Market breadth in Paris tilted negative: 309 stocks declined versus 170 advancers, and 84 issues finished unchanged.
Volatility measures showed a notable move higher. The CAC 40 VIX, which reflects implied volatility on CAC 40 options, was unchanged on the session at 18.96 but represented a new 52-week high.
Commodities traded with sharp moves that accompanied equity weakness. According to closing figures, Gold Futures for June delivery was down 3.12% or 146.13 to $4,539.17 a troy ounce. In energy markets, crude oil for June delivery rose 4.19% or 4.24 to $105.41 a barrel, while the July Brent contract increased 3.51% or 3.71 to trade at $109.43 a barrel.
Currency markets were relatively stable in percentage terms in the data provided: EUR/USD was reported unchanged 0.39% to 1.16, and EUR/GBP was unchanged 0.21% to 0.87. The US Dollar Index Futures was higher by 0.47% at 99.19.
Market context and takeaway
The session closed with broad selling across cyclical sectors, notably industrials and basic materials, while select technology and services stocks recorded outsized gains. Volatility on the CAC options market reached a year high, and commodity moves - particularly in oil and gold - were significant influences on risk sentiment.