(BFM Bourse) – The Paris Stock Exchange ends this week on a high note, the CAC 40 closes up 0.6% while the Republicans and the Democrats are close to an agreement on the raising of the American debt ceiling . On a weekly basis, the star index in Paris posted a gain of 1.04%.
Green is the color of hope and trend in the markets this weekend. Especially since in the present case, the two are linked. The Paris Stock Exchange has thus regained momentum, buoyed by hopes of an agreement between Democrats and Republicans on the American debt.
The rise of the day (+0.61%) allows the CAC 40 to return to contact with 7,500 points at 7,491.96 points after a three-week high in session at 7,523.56 points. And over the week as a whole, the results are also positive, the flagship index posting gains of 1.04% and thus ending a series of three weeks in negative territory.
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Also note the many records recorded this Friday on other world stock markets. Tokyo got the ball rolling on Friday morning, its flagship index the Nikkei reaching a new closing high since the summer of 1990, at 30,808.35 points. In Frankfurt, the Dax registered a new high at 16,331.94 points in session as well as at the close.
Optimism continues, therefore, to punctuate the mood of the markets while an agreement on the raising of the ceiling of the American debt, necessary to avoid a default, seems to be on the right track. The White House has reported “steady progress” as President Joe Biden left for Tokyo for the G7 summit.
According to Deutsche Bank, House Republican leader Kevin McCarthy told him he now saw how a deal could be reached and that the negotiations are “in a much better place”.
“He even said he expected the House to consider a deal next week, and that a ‘deal in principle’ could be reached this weekend,” the bank added.
Ubisoft heckled by UBS
On values, the news was very calm except for Ubisoft (-0.7%) which was heckled by UBS which downgraded its opinion to “sell” on the title of the video game publisher.
As for mid-caps, ESI Group (+3%) was supported, as on Thursday, by takeover speculation, the company having indicated that it was conducting preliminary discussions with a view to a potential sale.
On other markets, the euro took 0.4% to 1.0816 dollars. Oil contracts turned down. The North Sea Brent contract for July delivery fell 0.6% to $75.39 a barrel while the New York-listed WTI contract for June fell 0.8% to $71.30. the barrel.
Sabrina Sadgui – ©2023 BFM Bourse