After gaining as much as 0.25% in the morning, the Paris index is struggling to stay in positive territory at mid-session. It is nonetheless benefiting from the momentum in AXA, which is up 2.2% this morning. The French insurer is buoyed by an analysis from RBC Europe Limited, which has initiated coverage of the stock with an "Outperform" rating and a price target of 48 euros, compared to the current price of 37.46 euros.

Capgemini (+2.1%) and URW (+1.9%) round out the CAC40 podium at mid-session.

Stocks on the Move

After dropping nearly 28% over four sessions, Dassault Systèmes is attempting a rebound and is up nearly 1%. As a reminder, yesterday AlphaValue/Baader Europe downgraded the stock from "buy" to "reduce," with a lowered price target from 27 to 17.80 EUR.

Vicat (-4.2%) stands as the worst performer in the SBF 120 following the release of its annual results. The cement group reported consolidated net profit of 307 million euros, up 5.7%, for its 2025 fiscal year.

Elsewhere in Europe, InterContinental Hotels Group is flat in London despite reporting results above expectations. The group posted an adjusted net profit of 774 million US dollars in 2025, up 11% year-on-year, with adjusted EPS at 501.3 cents, a rise of 15.9%.

Theon, a specialist in optronic systems, reported results above expectations for the 2025 fiscal year, driven by strong commercial momentum and an expanding order book. The stock is up nearly 1% in Amsterdam.

Corporate earnings releases will continue over the coming days, with, as early as tomorrow, Vinci, Orange, Euronext, ADP, and Carrefour among French stocks, as well as BAE Systems, Glencore, and Carvana.

Analyst Perspectives

"Indices are doing well, but beneath the surface, it's a different story," analyzes Christopher Dembik, investment advisor at Pictet AM. "Fewer and fewer companies are contributing to the rise in equities. This is a phenomenon observed across all financial markets. It calls for caution," he adds.

For their part, Goldman Sachs analysts are reiterating their optimistic outlook for 2026, despite elevated geopolitical risk. "We anticipate global growth above consensus expectations, supported by the easing of tariff effects, fiscal support, and more favorable financial conditions," they state.

Finally, Joseph V. Amato, president and CIO-Equities at Neuberger Berman, believes that "behind the political turmoil, macroeconomic and market fundamentals remain remarkably solid and stable."

Stats and Figures

On the statistics front, the inflation rate in Germany, as measured by the annual change in the consumer price index (CPI), stood at +2.1% in January 2026, according to the Federal Statistical Office (Destatis), thus confirming its preliminary estimate in a second reading.

Meanwhile, still in Germany, the ZEW index of investor sentiment on economic prospects came in at 58.3 in February, compared to an expected 65.8, after 59.6 in January.

The unemployment rate rose more than expected in Great Britain in the last quarter of 2025, according to figures published Tuesday by the Office for National Statistics (ONS), which nonetheless notes more mixed data for the labor market as a whole.

Finally, at 2:30 p.m., market participants will take note of the New York Fed's Empire State index.

Elsewhere in the news, Brent crude is down 0.3% in London, at 68.3 USD. Gold is down 1.2%, at 4,933 USD. Finally, the euro remains broadly stable against the greenback, around 1.184 USD.