At Thursday's closing bell, the CAC 40 retreated 0.71% to settle at 7,984 points. This negative trend was mirrored across Europe, with the Euro STOXX 50 slipping 0.79%.

"We saw a risk-off Thursday, with caution omnipresent amid another rise in crude prices as participants continue to closely monitor geopolitical events in the Middle East," noted Michael Brown at Pepperstone.

"I would wager that the equity price movements we see today will likely be very similar to those we observed last week," the research strategist predicted.

"Specifically, a broad desire to de-risk heading into the weekend, with few, if any, players looking to 'catch a falling knife' and mitigate these risk moves if they begin to gain momentum," he added.

Investors are expected to keep their eyes fixed on oil prices, with WTI and Brent crude, the primary benchmarks, currently fluctuating around 96 USD and 101 USD respectively.

A heavy data calendar, led by the PCE index

This final session of the week will also be marked by the release of numerous macroeconomic statistics, including French consumer price index data in a few minutes, followed by Eurozone industrial production later this morning.

However, the primary focus will be on the United States, particularly the midday release of the PCE price index—an indicator closely scrutinized by the Fed, which is scheduled to hold its monetary policy meeting next week.

This January index will be released alongside U.S. household income and spending data, as well as a fresh GDP estimate for the fourth quarter of 2025. January durable goods orders and the UMICH consumer confidence index are also expected.

In the meantime, the ONS reported this morning that British industrial production remained virtually stagnant in January (-0.1%), though the UK trade deficit narrowed, primarily due to a surge in exports.

TotalEnergies cuts production due to war

In corporate news, TotalEnergies has initiated the shutdown or progressive closure of certain production sites in the Middle East (Qatar, Iraq, and offshore UAE). These assets represent approximately 15% of the group's total production.

Vivendi reported its 2025 annual results, posting an EBITA of 45 million euros, compared with a loss of 1 million euros a year earlier. The performance was driven by strong results from Gameloft and a reduction in corporate overhead costs.

Finally, Euronext's quarterly review of Parisian indices resulted in no major upheavals: notably, within the SBF 120 and the CAC Mid 60, DBV Technologies will replace Robertet.