(CercleFinance.com) – And there you have it, 8 consecutive sessions of increases (5 out of 5 this week) including 7 absolute records in a row (since February 15), what more can we say?
We can specify that the CAC40 (+0.8%) has just peaked around 7,980Pts, that it has garnered +2.5% over the past week and that it is aligning a 17th week of increase with a single weekly consolidation of – 1.6% at the end of the first week of January.
If the CAC40 has not (yet) validated the ‘8,000’, the day is not lost since the SBF-120 grabs the ‘6,000’ and sets a new record at 6,024 points.
The Euro-Stoxx50 (+0.5%) also breaks a new record at 4,878 and Wall Street unsurprisingly rolls out a new litany of absolute records.
The Dow Jones (+0.4%) peaks at 39,250, S&P500 (+0.4% to 5,108), Nasdaq-100 (+0.4% above 18,070), still in the wake of Nvidia with +4 % at $825… the capitalization of the stock crossing the $2,000 billion mark (i.e. more than the GDP of Canada, South Korea or Russia).
The title also shattered the record for the largest capital gain in history on Thursday with +$277 billion (this is more than the GDP of Portugal or New Zealand), far ahead of Meta and its +$200 billion 3 weeks earlier. and Apple’s +$190 billion in December 2022.
Nvidia also breaks the record for the highest activity on derivatives (a tsunami of purchases of ‘calls’, a profitable strategy, which is rare when everyone is ‘in the same direction’) and for the largest figure of deals on 1 stock in 1 session with $60 billion (i.e. 1 month of transactions for the CAC40).
‘In a market where performance is very concentrated, Nvidia’s excellent results are certainly much more important for the short-term trajectory of the stock market than any statistic or central bank decision,’ judges Christopher Dembik.
‘For the moment, everything indicates that the increase will continue. The economic deterioration perceived at the end of 2023 does not seem to be a subject for investors, continues the Pictet Asset Management economist.
In terms of today’s statistics, detailed German GDP data for the last quarter of 2023 were published this morning, as well as the Ifo business climate index in Germany for February.
Germany’s GDP fell by 0.3% in volume in the fourth quarter of 2023 compared to the third, according to CVS-CJO data from the Federal Statistical Office, which thus confirms its first estimate published on January 30. .
The Ifo business climate index in Germany rose from 85.2 in January to 85.5 in February, an increase ‘entirely attributable to an improvement in the expectations component’, according to Capital Economics (business leaders expect openly on a rate cut in the second half of 2024).
The bond markets are -finally- experiencing an improvement, although the stock markets remain in ‘risk-on’ mode with an easing of -3Pts in T-Bonds towards 4.295%, the Bunds erase -5Pts to 2.385% (Germany in recession, not start), our OAT -6Pts at 2.8480%.
The foreign exchange market remains calm with -0.1% on the ‘$-Index’ (at 103.85), the Euro recovering by 0.05% towards $1.0825.
To our attention the sudden fall in oil (-1.7% on ‘Brent’ towards $82) while it was stable this morning around $83.4 after peaking last night at $83.95 (it thus lost – 1.5% over the week, everything happened between 9 a.m. and 4 p.m.).
In stock news, CapGemini indicates that it is expanding its strategic alliance with Unity, a platform for creating and operating interactive 3D content in real time, from which it will buy its business services activity specializing in digital twins.
Bouygues Telecom announces an exclusivity protocol with La Poste to acquire its subsidiary La Poste Telecom, the leading virtual operator on the French market, for an enterprise value of 963.4 million euros.
Sanofi says the US FDA has agreed to grant priority review to its Supplemental Biologics License Application (sBLA) for its Dupixent (dupilumab) in a potential sixth indication.
Investors will also be able to react to the annual results published Thursday evening by the distributor of household appliances and cultural products Fnac Darty, the engineering and consulting firm Alten, as well as the manufacturer of fasteners Lisi.
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