Market Summary
The CAC 40 cash index finished the session higher, gaining 1.01% to settle at 8,262.16 points on a turnover of €4.973 billion.
Paris kept its upward drift, yet the broader international backdrop remains fragmented. Investors stay wary of technology stocks, especially software firms, after a wave of selling across the Asia‑Pacific region that mirrors movements in the United States and Europe.
Much of the unease stems from the rapid rise of generative‑AI tools, which threaten traditional software business models. The recent launch of a productivity suite by Anthropic intensified the rivalry between AI‑driven platforms and conventional applications.
Despite the bearish pressure on tech, the market found support from targeted buying in the financial and industrial sectors, which appear to benefit from a sector‑rotation that has already taken hold.
Key Company Highlights
- Crédit Agricole posted a 39.3% plunge in net profit for Q4, mainly due to an exceptional charge linked to a larger stake in Banco BPM and losses in its auto‑leasing credit activities.
- Soitec surprised the market; although its annual results fell 29%, the company delivered €16 million in sales for the quarter, surpassing expectations.
February CAC 40 Futures – Technical Levels
Resistance zones: 8,469.5 – 8,672 – 8,896 – 9,188 – 8,374
Support zones: 8,246 – 8,216 – 8,188.5 – 8,150 – 8,116 – 8,089.5 – 8,046 – 8,034.5 – 7,995 – 7,917 – 7,867.5 – 7,817.5 – 7,770 – 7,606.5 – 7,548 – 7,456.5 – 7,303.5 – 7,134.5 – 6,910
Intraday bias: The market stays bullish above the 8,246‑point level.
Chart Interpretation
On the 14‑hour chart, the CAC 40 future managed to break out of a trading range boxed between 8,034.5 and 8,188.5 points. The index failed to retest the median‑pivot line at 8,116, underscoring resilience and a willingness to preserve the current market structure.
A decisive close above 8,188.5 – and especially beyond the pivotal 8,246 level – would signal the end of the consolidation that began on 19 January. The next target would be roughly 8,344 points, derived from the height of the previous congestion zone. Further upside could aim for the historic highs around 8,400 points and the upper edge of the long‑term bullish channel near 8,540 points.
Conversely, a slip back into the trading range would invalidate the recovery, reopening the consolidation phase. The first downside objective would sit at the lower side of the horizontal channel. A close below the alert zone (8,034.5 – 7,995) would break the lower boundary of the long‑term upward channel, potentially launching a swift decline toward 7,882 points – the lower target of the current range. Moreover, the “neck‑line” of the triple‑top reversal pattern remains intact; a breach below 7,134 points could trigger a clear bearish reversal with a longer‑term aim around 6,000 points.
Portfolio Strategy
We continue to add positions gradually to the Dynamic and Investor portfolios, supporting the market’s recovery and the anticipated reactivation of the bullish trend. At the same time, we stay alert and are ready to adjust exposure or hedge if the scenario proves unsustainable or if reversal patterns emerge on the indices.
