(BFM Bourse) – The CAC 40 is moving up slightly in mid-session, while the absence of American investors due to a public holiday weighs on volumes.
The Paris Bourse is starting the week on a good note. At mid-session, the CAC 40 rose very slightly by 0.3% to 7,042.27 points, thus consolidating the bar of 7,000 points. The volumes of the session are penalized by the absence of American market operators, Wall Street being closed on Monday due to a public holiday in memory of Pastor Martin Luther King.
This same Monday also marks the start of the World Economic Forum in Davos where our colleagues from BFM Business will interview several major leaders and economic decision-makers.
The agenda is therefore very sparse on Monday, but it will accelerate tomorrow with the publication of several indicators in China, the second estimate of inflation in Germany and the Zew index, which measures investor confidence. from across the Rhine.
It will then be necessary to monitor, on Wednesday, retail sales in the United States, the publication of the Beige Book of the American Federal Reserve, which draws up a state of the economic situation in the United States, then the next day the minutes (report) of the European Central Bank.
“The strategy that central banks will pursue will remain one of the keys to 2023. We continue to believe that they will have to keep a relatively restrictive policy at least this year and then only release their pressure on demand little by little”, considers Sebastian Paris Horvitz , economist at La Banque Postale Asset Management.
Orange in the red
In terms of values, Carrefour (+4.6%) is at the top of the CAC 40 followed by Thales (+2.6%). UBS, in a note, estimated this morning that the group should reveal solid annual revenues, in line with consensus expectations, and reiterated its advice at “neutral”. Invest Securities, for its part, slightly adjusted its advice to “neutral” with a price target raised to 18 euros against 17.7 euros previously.
Orange for its part yields 2%, suffering from a degradation on the part of Jefferies to buy to keep.
Hermès (-1.6%) and Schneider Electric (0.7%) are also taking a breather. These two stocks are in the top 5 of the 2023 edition of our BFM Bourse rankings, Hermès taking the lead with an average annual gross return of 27.2% over five years (2018-2022).
Renault for its part yielded 0.2% while Stifel confirmed its advice to purchase the title, warning that the market should not underestimate the operational recovery initiated by management.
Also note the plan to list Lepermislibre on Euronext Growth, the group having registered its universal registration document with the Autorité des marchés financiers, the first step towards listing on the Paris market.
On the other markets, the euro is almost stable against the dollar, at 1.0832 dollars. Oil contracts are losing ground. North Sea Brent crude for March delivery fell 0.6% to $84.77 a barrel, while New York-listed WTI for February delivery fell 0.4% to $79.53 a barrel.
Julien Marion – ©2023 BFM Bourse