Despite an apparent calm, significant movements are still visible among Paris-listed stocks, reflecting high volatility and ongoing portfolio rebalancing. Eiffage and Thales are up 4%, followed by Vinci (+3.1%). Meanwhile, the luxury sector is under pressure, with Kering falling -4.7% and LVMH down -2.6%.
Across Europe, trends are more mixed: London is down 0.5% (notably with +2.3% for Vodafone and -2.7% for BP), while Frankfurt is up 0.4%, led by Heidelberg Materials (+2.4%), E.ON (+2.1%), and Siemens (+2.1%).
Among the biggest movers in Europe, Exail Technologies is up nearly 8% after announcing two new orders for its DriX H-9 surface drone, one from a leading navy and the other from SHOM.
Uniper (+7%) jumps after launching the process to divest its helium business. This operation, required by the European Commission as part of its public bailout plan, is seen as an additional step in the group’s refocusing and simplification.
Redcare Pharmacy (-8%) is down after reporting fourth-quarter revenue below expectations. Sluggish sales of over-the-counter drugs—despite the ongoing flu season—outweighed the strong growth in e-prescriptions, prompting the market to penalize the stock in pre-market trading.
In other company news, Technip Energies (-1.8%) has won two major contracts awarded by Bharat Petroleum Corporation Limited (BPCL) for key projects at its refineries in Bina, Madhya Pradesh, and Mumbai, Maharashtra, India, for a total value between 250 and 500 million euros.
Hoffmann Green Cement Technologies (+8%) achieved record production volume in 2025. This year, the group sold 50,700 tonnes of decarbonized cement, a 3.1-fold increase compared to 2024 (16,269 tonnes), despite a still-cautious French construction market.

"The first three trading days of the year marked a genuine broadening of the ongoing stock market rally," Danske Bank analysts observe. While markets are still digesting the US intervention in Venezuela and the fall of the Maduro regime, some observers are hopeful for a quick restart of oil supply from Caracas.
"However, we anticipate a slower and more complex recovery in exports, due to persistent operational constraints, legal hurdles, and several years of underinvestment in the sector," note experts at Neuberger Berman.
"Even if US policy is eased and broader export exemptions are granted, an immediate influx of barrels is unlikely," they add.
In this context, Brent crude is trading at 60.3 USD a barrel in London (-0.3%). The euro is stable against the greenback, at 1.168 USD.

On the data front, investors noted a rise in unemployment in Germany: with the start of the winter holidays, the number of job seekers in Germany increased by 23,000 sequentially to reach 2,908,000 in December 2025. Excluding seasonal effects, the figure rose by 3,000 compared to the previous month.
In France, consumer confidence is rebounding slightly in December 2025, with INSEE’s composite indicator up one point to 90, but still below its long-term average (100).
Later today, markets will turn their attention to the ISM Services Index, which will provide further insight into the health of the US economy, a picture that will be complemented by the ADP and JOLTS labor market surveys.

In the eurozone, preliminary inflation figures for December will be closely watched.