CAC 40: Macro agenda and extremely busy microphone.

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The clues are continuing their progress with caution, supported by a positive global dynamic. Yesterday, the German Dax won 0.69 %, carried by the solid performance of the banking sector, while the CAC 40 sold 0.24 %, penalized by the fall of Schneider Electric, sanctioned after a downward revision of its 2025 margins. Capgemini, at the top of the Paris index with a gain of 5.67 %after the confirmation of its objectives, did not tendency.

Across the Atlantic, Visa has reassured the markets with solid results and the announcement of an equity buyback program of $ 30 billion. On the other hand, macroeconomic indicators continue to deteriorate: consumer confidence has again folded, the Conference Board index recording a fifth consecutive month of decline, a first since 2008. This day, investors are waiting for a salvo of major results, especially those of Microsoft, Qualcomm, Meta Platforms, or Caterpillar. On the macroeconomic level, publications of American GDP and inflation via the PCE index are also eagerly awaited.

In Europe, the session promises to be rich, with the results of many companies. Société Générale has published results above expectations, with net profit doubled at 1.61 billion euros. Crédit Agricole posted a limited withdrawal of 4.2 % of its net profit to 1.82 billion euros, impacted by an exceptional tax surcharge, but supported by increasing increased revenues. Virid has unveiled an adjusted Ebitda increase by 35 % despite a negative net cash flow.

In Germany, the automotive sector will be led by the publication of Mercedes-Benz, whose net profit fell 43 % in the first quarter to 1.73 billion euros, against the backdrop of commercial uncertainties.

In semiconductors, ASM International could illustrate after announcing an increase of 14 % of its orders, beyond forecasts, despite trade tensions.

Airbus, Totalenergies, Stellantis, Teleperformance, Air France-KLM and Adyen publications will also be scrutinized today.

Key graphics elements

Technically, the Parisian index has confirmed the figure of a shooting star of the day before by forming a small red candlestick, a sign of a breathlessness of the buying dynamics. In addition, the lower gap remains open at the end, thus retaining its role of resistance. A decline in the mobile average 20 days, which coincides with the high terminal of the previous Gap Haussier, could be envisaged.

FORECAST

In view of the key graphic factors that we have mentioned, our opinion is negative on the CAC 40 index in the short term.

This lowering scenario is valid as long as the CAC 40 rating index below resistance at 7690.00 points.

Hourly data graphics

Daily data graphics