Capucine Bouchard

Explainer: If I make money on the stock market, has someone else lost it?

The stock market is often imagined as a game where one person's gain is another's loss. This is an intuitive but incomplete view. Depending on the time horizon and the instruments used, the market can also be a powerful engine for wealth creation.

April 09, 2026 at 07:53 am

Investor education: if I make money in the stock market, did someone else lose it?

The stock market is often imagined as a game where one person's gains are another's losses. It's an intuitive view, but an incomplete one. Depending on the time horizon and the instruments used, markets can also create wealth.

April 09, 2026 at 04:54 am

Bolloré entities soar, Stellantis and Leonardo under close watch

Universal Music Group surges following Pershing Square's buyout offer, pulling Vivendi and Bolloré higher in its wake, while BW Energy secures its future in Gabon through 2053. Conversely, ASML retreats under the pressure of U.S. restrictions on China, and Stellantis faces heat from the Canadian government.

April 07, 2026 at 04:09 am

Luxury sector under pressure at the start of 2026

Since January 1, major luxury stocks have fallen sharply across the markets. From LVMH to Hermès, including Richemont and Kering, all are posting double-digit declines. Against a backdrop of geopolitical tensions and a global slowdown in demand, the sector is no longer a "Must Have."

April 02, 2026 at 11:48 am

Alstom gains momentum, Inventiva underperforms

Südzucker soars following a dramatic turnaround by Barclays, while Alstom accelerates on the back of a major 700 million euro contract. SoftwareOne attracts investors with its profitability. Conversely, Inventiva collapses under the weight of mounting losses, and Clariant faces pressure from a Goldman Sachs downgrade as the pharmaceutical sector remains strained.

March 31, 2026 at 04:22 am

When AI fear reveals market irrationality

In mid-February, a US small-cap, Algorhythm Holdings, triggered an unexpected shockwave across the markets. Following a communication regarding the performance of its AI-based logistics solution, nearly $17bn in valuation was wiped out in a single session within the transport sector. The Financial Times revisits this episode.

March 30, 2026 at 09:58 am

Novartis to Acquire Excellergy to Bolster Immunology Pipeline

On Friday Novartis announced an agreement to acquire the US biotech firm. Excellergy, a specialist in next-generation therapies targeting IgE-mediated diseases, in a deal valued at up to $2bn.

March 27, 2026 at 07:25 am

Novartis announces the acquisition of Excellergy to bolster its immunology franchise

Novartis said Friday it has signed an agreement to acquire U.S. biotech Excellergy, which specializes in next-generation therapies targeting IgE immunoglobulin-related diseases, in a deal valued at up to $2bn.

March 27, 2026 at 05:48 am

Pernod Ricard cheers merger talks, Dino Polska stumble

Sol S.P.A. rallies on record results and Sobi gains from a price target hike, while a potential alliance between Pernod Ricard and Brown-Forman revitalizes the spirits sector. Conversely, CTS Eventim plunges following disappointing earnings and Dino Polska collapses as margins come under pressure, while Jungheinrich suffers from a slowdown in industrial orders.

March 27, 2026 at 05:21 am

Henkel bolsters premium hair care portfolio with acquisition of Olaplex

Henkel is pressing ahead with its premiumization strategy, announcing the acquisition of Olaplex for $1.4bn. This transformative deal increases the group's exposure to the upmarket hair care segment and strengthens its Consumer Brands division.

March 26, 2026 at 05:42 am

Henkel doubles down on premium hair care with the acquisition of Olaplex

Henkel is continuing its move upmarket by announcing the purchase of Olaplex for $1.4bn. The deal is a significant step that increases its exposure to the premium hair care segment and further strengthens its Consumer Brands division.

March 26, 2026 at 05:05 am

OpenAI Scraps Sora; Terminates Partnership with Disney

OpenAI has decided to pull the plug on Sora, its AI video generation technology, a move that directly triggers the termination of its partnership with Walt Disney, signed only a few months ago.

March 25, 2026 at 05:49 am

Volkswagen considers transforming plant towards military production

The German automaker is exploring a strategic pivot for its embattled Osnabrück site by entering talks with Israel's Rafael Advanced Defense Systems, the manufacturer of the Iron Dome missile defense system.

March 25, 2026 at 05:45 am

Why financial crises always return: The Minsky cycle explained

1987, 1997, 2008, 2020. At first glance, these dates suggest an almost rhythmic regularity. Every decade or so, a major crisis hits the financial markets following a period of calm. Minsky's theory tends to show that this is far from a mere coincidence or a mathematical curse.

March 25, 2026 at 05:37 am

OpenAI Drops Sora and Ends Its Partnership With Disney

OpenAI has decided to shut down Sora, its AI-powered video generation technology, a move that directly ends its partnership with Walt Disney, signed just a few months earlier.

March 25, 2026 at 05:09 am

Volkswagen Could Repurpose a Plant for Military Production

The German automaker is weighing a new direction for its Osnabrück site, now under threat, by moving closer to Israel's Rafael Advanced Defence Systems, maker of the Iron Dome missile defense system.

March 25, 2026 at 05:06 am

Puig gets a makeover, Goodwin rebounds, Inficon disappoints

Puig surges on consolidation speculation in the beauty sector, while Goodwin and Ottobock benefit from renewed investor interest. By contrast, disappointing releases and earnings pressure weigh on several names, with Inficon heavily punished, Exor hit by its holdings and SAP weakened by analyst revisions.

March 24, 2026 at 04:59 am

Silgan Holdings reportedly considering takeover of Gerresheimer

Silgan Holdings, a specialist in packaging solutions, is exploring a potential bid for German medical packaging manufacturer Gerresheimer, according to several sources cited by Reuters. This potential move comes at a delicate time for the German firm, which is grappling with a sharp deterioration in its financial standing.

March 20, 2026 at 11:49 am

Silgan Holdings Said to Be Considering a Takeover of Gerresheimer

Silgan Holdings, which specializes in packaging solutions, is taking a look at German medical packaging maker Gerresheimer, according to several sources cited by Reuters. The potential deal comes at a delicate moment for the German company, which is facing a sharp deterioration in its financial position.

March 20, 2026 at 11:07 am

European Union reacts to surging oil and gas prices

Faced with a spectacular spike in crude oil and gas prices since the beginning of the month, the European Union is attempting to cushion the blow. As Middle East tensions threaten strategic global supply routes, European leaders are pressing the Commission to take action to protect household purchasing power.

March 20, 2026 at 06:36 am

Infineon rebounds, Bayer gets a boost and Wetherspoon plunges

Infineon and Indra are regaining their footing after recent pullbacks, while Bayer and Alstom are benefiting from green lights. By contrast, J D Wetherspoon, Inwit and Smiths Group are tumbling, weighed down by disappointing outlooks.

March 20, 2026 at 05:17 am