The Paris Stock Exchange recorded an increase of 0.80% on Wednesday, the sixth increase out of eight sessions of 2023, in an optimistic environment before the December US inflation figures expected on Thursday.
The flagship CAC 40 index took 55.05 points to 6,924.19 points the day after profit taking which had brought it down by 0.55%. The Parisian coast is thus approaching the threshold of 7,000 points, more than exceeded since mid-February 2022.
For Alexandre Baradez, analyst of IG France, there is a part of mimicry and fear of missing the rallythe upward wave of stock market indices, in line with the trend observed since the beginning of the year.
Slowing inflation and China’s economic reopening have supported markets since the beginning of the year. The European indices are also benefiting from the mild weather and the drop in gas prices, adds Alexandre Hezez, stratgist at the Richelieu group.
However, the topics China, lower energy prices and slowing inflation were already priced into the markets at the end of the year and there has been no significant improvement since the start of the year. anne, recalls Alexandre Baradez, who is therefore not totally convinced of the merits of the current leap.
Investors are eagerly awaiting the CPI inflation indicator for December in the United States, which will be published on Thursday, in order to see confirmation of the slowdown.
Analysts predict stagnation in prices over one month and a slowdown over one year to 6.5%, which they believe would allay fears of further monetary tightening by the US central bank (Fed).
In France, market operators could hang on to good news, the Banque de France having indicated on Wednesday that the French economy continued to hold firm and that it should register a stabilization in January, after a slight growth at the end of 2022.
Gold rating for LVMH
The market capitalization of the French luxury giant LVMH reached 389 billion euros on Wednesday, a historic record higher than the last peak of January 2022. First company of the CAC 40, the company is also the largest market capitalization in Europe and is one of the fifteen largest in the world.
LVMH also announced on Wednesday the appointment of Delphine Arnault, daughter of Bernard Arnault, as CEO of Christian Dior, while Pietro Beccari, who held this position, will take over as head of Louis Vuitton, the leading luxury brand. in the world.
The title gained 2.12% to 772.30 euros, also a record for the share price.
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In its wake, Herms rose by 0.87% to 1,620.50 euros and Kering by 3.64% to 543.40 euros. Herms’ market capitalization reaches 172 billion euros, close to its November 2022 record of 177 billion euros.
Orpea goes back step by step
The action of the Ehpad Orpea group jumped 14.30% to 8.65 euros on Wednesday and has risen 40% since the start of the year. This increase is mainly fueled by speculation around an entry into the capital of Caisse des Dépôts.
On Tuesday, the director general of the Caisse des Depts (CDC) Eric Lombard confirmed before the Finance Committee of the National Assembly that discussions were underway.
According to the newspaper Les Echos, the CDC would be ready, in collaboration with institutional investors, to provide at least the majority of the billion and a half euros hoped for by the Ehpad group to bail out.
In 2022, the title of the group fell by 93% after the publication of an investigative book which accuses the company of mistreatment of its residents.