French Equities Rally with Tech Gains; Top Gainer Stocks Lead Recovery

The CAC 40 benchmark index extended its recovery on Thursday, climbing 0.66% or 52.60 points to settle at 8,006.37 as investor sentiment improved across major sectors. The market’s upward momentum was primarily driven by renewed confidence in technology valuations following Nvidia’s strong quarterly performance and forward guidance, which exceeded market consensus.

Within the broader market advance, bank and financial sector stocks emerged as top gainer stocks, with BNP Paribas surging 5% and leading the gainers list. The financial heavyweight was accompanied by steady gains across the banking and insurance universe, including Societe Generale and Credit Agricole, each advancing between 1.4% and 2%.

Other top performers included industrial and luxury stocks, with Legrand posting near 3% appreciation and Thales advancing solidly. Infrastructure and industrial names like Schneider Electric, Safran, Airbus Group, and Engie demonstrated moderate but consistent upward pressure. Luxury retail giant LVMH, utilities provider Veolia Environment, and construction-related firms Bureau Veritas and Bouygues also registered positive movements throughout the session.

On the downside, semiconductor and automotive sectors faced headwinds. Stellantis declined 2.2%, while STMicroelectronics and Renault retreated 2% and 1.8% respectively. Consumer discretionary and industrial stocks including Vinci, Hermes International, Accor, Michelin, and Saint Gobain posted mild declines ranging from 0.4% to 0.8%.

Traders remain attentive to upcoming U.S. employment figures, which are expected to provide crucial signals regarding the Federal Reserve’s monetary policy trajectory and potential interest rate decisions in the near term.

Economic data released on Thursday revealed persistent weakness in the Eurozone construction sector. Construction output contracted 0.5% month-over-month in September, marking the second consecutive monthly decline following August’s 0.2% pullback. Year-over-year comparisons were equally disappointing, with construction activity down 0.3% versus a 1% gain recorded in the prior-year period, signaling ongoing headwinds in the region’s building and infrastructure investment cycle.