(BFM Bourse) – The Paris Stock Exchange begins the week on the rise, awakened by the new records for the S&P 500 recorded this Monday in New York. The CAC 40 gained 0.56%, back to 7,400 points. FDJ was the winning horse of this Parisian session.
From one session to another, the mood of the markets can change radically. And this is the case at the Paris Stock Exchange which opted for an increase this Monday, after having conceded 1.25% last week.
Parisian operators have slightly regained their taste for risk after the new record set by the S&P 500 at 4,868.41 points, from the first trading in New York on Monday. It will only have lasted a short weekend, the managers’ favorite index having already reached a historic high on Friday at 4,839.81 points.
The CAC 40 thus progressed 0.56% this Monday at the close, to return to 7,400 points, at 7,413.25 points.
The market is off to a good start in a fairly busy week of events, both on the macroeconomic front and on the business front. Concerning the ball of company publications, Tesla and ASML will be on deck from Wednesday, and, on the CAC 40, LVMH and STMicroelectronics will kick off this season on Thursday. Above all, the first wave of central bank meetings arrives this week, with the Bank of Japan on Tuesday and the European Central Bank on Thursday. These meetings come at a time when investors are somewhat lowering their optimism about future key rate cuts from major central banks.
“The markets have somewhat corrected the overly aggressive expectations of rate cuts thanks to the cautious speeches of most central bankers. But these expectations remain optimistic, especially for the Fed (American Federal Reserve, Editor’s note)”, explains Xavier Chapard of LBPAM.
“At the same time, risky assets remain supported, with global equities having surpassed their high point at the start of 2022 last week. Overall, financial conditions remain more accommodating than last year, which could displease central bankers who are not yet sure of having completely won the fight against inflation,” he continues.
Winning ticket for FDJ
On the value side, FDJ gained 5.5% after announcing its desire to buy the Swedish Kindred, parent company of Unibet, for a company value of 2.6 billion euros. This operation significantly increases its size, its internationalization, and accelerates its digital transformation.
Worldline limited its gains to 0.9% while Crédit Agricole SA announced that it held 7% of the capital of the payments group, reaffirming its confidence in its industrial partner.
Dassault Aviation climbed 0.9%, supported by Stifel which maintains its purchase recommendation as well as its price target of 240 euros.
Air Liquide, on the other hand, fell by 0.15% while the same intermediary went from “buy” to “hold” on the value.
On other markets, the euro lost 0.1% against the dollar at 1.0890 dollars. Oil rebounds. The March contract on North Sea Brent advanced 1.5% to $79.77 per barrel, while that of the same maturity on WTI listed in New York gained 1.8% to $74.59 per barrel. .
Sabrina Sadgui – ©2024 BFM Bourse