(BFM Bourse) – The Paris Stock Exchange rebounded strongly this Thursday, after having paused the day before. The CAC 40 regains 1.34% to get closer to 7,700 points.
The Paris Stock Exchange resumes its forward march interrupted the day before. The CAC rose 1.34% to 7,671.34 points, supported by new records on Wall Street which was closed the day before for a public holiday.
The S&P 500 is moving for the first time in its history over 5,500 points, while the Nasdaq also sets a new record thanks in particular to the irresistible rise of Nvidia, the brand new first world market capitalization. The giant of chips for artificial intelligence gained another 2.5%, consolidating its domination in the world stock market hierarchy.
The markets, however, remain expectant, still monitoring French politics. It is in this complicated context that the Treasury carried out its very first bond issue since the announcement of the dissolution. And this test was successful, more than 10.5 billion euros of medium and long-term French bonds were placed (over 3 to 8 years), with demand there since it was 2.4 times higher than the offer.
This day was also marked by monetary policies. Three central banks from the Old Continent delivered their verdict this Thursday. The Swiss National Bank (SNB), the central bank of the country with four official languages, has decided to lower its rates for a second time since the start of the year, bringing its main key rate to 1.25%.
This measure was “probably more influenced by the appreciation of the franc over the last two months than by a perceived easing of domestic inflationary pressures”, underlines Capital Economics. “In our view, the SNB is unlikely to cut rates further this year, as domestic demand is already starting to recover and inflation will remain at its current level,” the think tank adds.
The Central Bank of Norway has opted for the status quo, maintaining its key rates at 4.5% and plans to leave them unchanged until the end of the year.
Ditto for the Bank of England which, unsurprisingly, maintained its interest rates at 5.25%. “We therefore remain committed to our long-standing position of an initial cut of 25 basis points on August 1, followed by a quarterly cut until rates fall to 3.50% at the start of the year. year 2026”, estimate for their part the economists at Nomura.
Investors have difficulty digesting Danone’s plan
On the value side, Capgemini jumped 3%, in the wake of the American Accenture which exceeded expectations on its turnover growth forecast.
Danone limits its decline to 2.6% after losing up to 4.7% during the session. The agri-food group was sanctioned after unveiling the new part, for 2025-2028, of its Renew strategic plan. But the announced objectives do not seem to have any particular flavor for investors.
Bic plunged 12.3%. The specialist in stationery, razors and lighters has lowered its growth forecast for 2024 due to a more difficult US lighter market than initially expected.
On the small and mid-cap side, HRS soared by 19.3%, after announcing at the beginning of the week a first sale of a refueling station outside of Europe.
On other markets, the euro fell 0.3% against the dollar to 1.0716 dollars. Oil is gaining a little ground after the drop in weekly oil stocks in the United States. The August contract on North Sea Brent advanced 0.4% to 85.38 dollars per barrel, while that of the same maturity on WTI listed in New York climbed 0.3% to 80.93 dollars per barrel. barrel.
Sabrina Sadgui – ©2024 BFM Bourse