(BFM Bourse) – The Paris Stock Exchange benefited from valuable support this Thursday, namely the publication of excellent half-year results, and American statistics fueling the hope of seeing the Fed relax its monetary policy. The CAC 40 recorded a new closing high at 7,743.42 points.
The Paris Stock Exchange continued its rebound initiated the day before. The CAC 40 closed up 0.86% to 7,743.42 points, erasing its short-lived record set on Monday at 7,689.80 points.
The Parisian index was supported by two radically opposing forces. The excellent annual results published by the CAC 40 leaders this Thursday allowed it to set a new session record at 7,750.07 points, also eclipsing its previous record which stood at just under 7,703 points.
Macroeconomics also helped support the trend. The latest statistics show that the American economy is starting to show some signs of weakness. Retail sales were disappointing in the United States in January, falling 0.8% last month. Industrial production in January contracted by 0.1% in January.
These figures fuel hopes that the American Federal Reserve will be more accommodating in the conduct of its future monetary policy. Moreover, the yield on the 10-year American debt fell to 4.22%, after moving to 4.30% on Wednesday. But obviously the big part for investors remains the numerous company publications to digest.
Renault and Stellantis on the floor
One sector particularly stands out: automobile manufacturers. Renault finished the race at the top of the CAC 40 (6.5%). The group published record operating margin and cash flow, reminding the market that its fundamentals remain strong.
Stellantis is not to be outdone and rebounded by 5.8%. Accustomed to publishing solid results, the group led by Carlos Tavares once again overtook analysts, with a slightly better margin than expected and, above all, impressive cash generation. The group will return 7.7 billion euros of cash to its shareholders in the form of dividends or share buybacks.
Safran is not that far away, and appreciated by 4.1%. The aeronautical equipment manufacturer has basically done everything well, including solid growth in after-sales activities, which are very profitable.
Pernod Ricard did well overall (+1.8%), after a publication revealing a clear decline in alcohol sales in the United States and China, but Pernod Ricard managed to improve its margins in the first half of the year. .
Airbus, on the contrary, is losing ground (-0.9%). Its fourth quarter results were lower than expected in terms of adjusted operating profit, unlike cash flow. Furthermore, the shareholder return announcements (ordinary dividend and exceptional dividend) can prove to be a bit disappointing.
On the currency side, the euro gained 0.3% against the dollar to 1.0758 dollars after the latest American statistics. Gold prices are also recovering this Thursday, reversing their downward trend at midday. The April contract on North Sea Brent gained 1.9% to 83.13 dollars per barrel, while that of the same maturity on WTI listed in New York jumped 2.2% to 78.31 dollars per barrel. barrel.
Sabrina Sadgui – ©2024 BFM Bourse