Technology on the rise
This is an international observation: Tesla shares remain the largest company, ranking first in most countries. In this regard, France is no exception. For the fourth consecutive quarter, despite a 36% year-to-date drop, Tesla remains at the top of the rankings.
More than an electric vehicle company, it’s the entire tech sector, mostly American, that is proving its dominance. In France and abroad, the top 5 is mainly occupied by Tesla, Amazon, Apple, Nio (Tesla’s Chinese competitor) and Meta Platforms (formerly Facebook). Expanding to the top 10, all Gafams (Google, Amazon, Facebook, Apple, Microsoft) are represented. It is clear that the technology sector is undoubtedly synonymous with the future for investors.
According to Antoine Freiss-Soulier, Head of Market Research at eToro, “No one knows the situation better than the person who lives in it. We see the same logic apply to investor confidence in technology stocks like Microsoft or Apple. The services and products of these companies are used by the majority of the world’s population every day, making them “defensive” technology stocks that continue to be popular even when the global economy is struggling. »
In a similar vein, Twitter benefited from a spectacular increase (137% in June) in securities in client portfolios thanks to Elon Musk’s public desire to enter the company’s capital.
Air France, LVMH, Total Energies: the most sought-after French stocks
In addition to tech stocks, LVMH entered the top 10 in France at just 7th place after a 31% increase in user portfolios. In a volatile market environment, LVMH’s presence in the rankings is indicative of investor confidence in the luxury sector and, in particular, in the sector’s French stocks.
Expanding the rankings, the top 20 also includes three other French companies: Air France (14th), which has recently recovered significantly, and Airbus (15th), which showcase a structurally dynamic aviation sector that is still is growing rapidly. Total Energies also ranks 16th. The company, which has benefited from rising oil and gas prices, remains heavily represented in the portfolios of most investors.
Finally, Ubisoft is at the top of the French companies whose portfolio is growing. Due to its affiliation with the video game sector and the potential target of the takeover bid, the company is ranked 4th in the world.
Therefore, despite rising inflation and interest rates, growth companies remain especially popular with retail investors and dominate the rankings of the most widely held stocks. Whether it’s tech stocks, luxury stocks or even energy stocks, the enthusiasm of the French in the stock market remains unchanged.
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