Cac 40: With L’Oréal moving up the slope, the CAC 40 is gaining ground

(BFM Bourse) – The Parisian index is advancing at the start of the week, which will be marked by numerous company results and the publication of American inflation.

The Paris Stock Exchange is starting the week off on the right foot. The CAC 40 rose 0.36% at the start of the afternoon to 7,673.53 points.

The week will be marked by the publication of American inflation on Tuesday as well as retail sales in the same country on Thursday.

“For a month and a half, investors have gone into ‘good news is good news’ mode, buying good macroeconomic figures considering that it is excellent news if the American economy manages to perform in a high interest rate environment” , notes Alexandre Baradez of IG Markets. “We can consider that the stock markets have been a little complacent for several weeks,” he adds.

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L’Oréal is regaining some momentum

The Parisian stock market will also be driven by numerous results from CAC 40 companies, including Michelin this Monday evening, with especially an avalanche on Thursday (Stellantis, Airbus, Renault, Schneider Electric, Pernod Ricard, Orange, etc.).

For now, the CAC 40 is driven by the small rebound in L’Oréal (+3.3%), which is benefiting from cheap buybacks after taking the plunge on Friday (7.6%), undermined by growth disappointing in the fourth quarter. This increase allows it to follow Hermès as second place on the Parisian stock market in terms of market capitalization.

The specialist in digital music distribution Believe sees its action suspended. The company indicated on Monday that it had received a buyout offer at a price of 15 euros per share, an offer which came jointly from funds and the CEO, Denis Ladegaillerie.

Note that on the smaller capitalization side, IDSud resumed trading on Friday at the very end of the session and is therefore trading on Monday. The group has launched a public share buyback offer and is offering its holders, rather than cold hard cash, FDJ shares.

On other markets, the euro fell 0.1% to 1.0771 dollars. Oil is losing ground: the April contract on North Sea Brent fell 1.2% to 81.18 dollars per barrel, while that on WTI listed in New York lost 1.2% to 75.90. dollars per barrel.

Julien Marion – ©2024 BFM Bourse

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