(CercleFinance.com) – The Paris Stock Exchange ends this last session of the week with a gain of 0.7%, to 7966 points, a new absolute closing record, driven by Air Liquide (+2.2%), CapGemini (+2%) or even Michelin (+1.8%).
The Parisian index also set a new intraday record with a peak at 7976 points. The CAC40 rose a little more than 2.5% over the past week and already 5.6% since the start of the year.
The Parisian market benefited from the bullish momentum which spread across all stock markets after the insolent results of Nvidia, across the Atlantic. The chip and AI specialist has crossed $2000 billion in capitalization (i.e. more than Canada’s GDP).
The stock also shattered on Thursday the record for the largest capital gain in history in 24 hours with +$277 billion (this is more than the GDP of Portugal or New Zealand).
‘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,’ analyzes Christopher Dembik.
On the statistics front, investors learned this morning of a 0.3% decline in German GDP in volume between the 3rd and 4th quarters, according to CVS-CJO data from the Federal Statistical Office, which thus confirms its first estimate published on January 30.
Furthermore, 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’, assesses Capital Economics (heads of companies are openly counting on a drop in rates 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 -7Pts in 10-year T-Bonds towards 4.25%, while the German Bund of the same maturity stagnates around 2.35%.
Dead calm on the foreign exchange market, euro and dollar remain immobile, at $1.082/E. Gold appreciated by 0.6%, to $2,037 per ounce.
Note the sudden drop in oil (-1.3% on ‘Brent’ towards $82.3) yet stable this morning around $83.4 after a peak last night at $83.95 (it thus lost -1, 2% over the week).
In stock news, Capgemini says 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 business 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.
Michelin announces the construction of ‘the first end-of-life tire recycling plant in Sweden’, in collaboration with Antin – majority shareholder of the joint venture – and Enviro – which has an option to become a ‘significant minority shareholder’ .
Alstom announces that it has started production of Metropolis trainsets intended for phase IV of the Delhi Metro Rail Corporation (DMRC). Awarded in November 2022, this order aims to deliver 52 trainsets, each made up of six cars.
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