(CercleFinance.com) – The CAC40 ended the session with a gain of 1.13%, at 7,113 points, well helped by Schneider Electric which gained 8.2% ahead of Worldline (+5.6%) and Legrand (+ 3.1%).
Across the Atlantic, the bullish rally is taking on historic proportions with a 9th session of increase (+0.1%) for the S&P500 (which aims to fill the ‘gap’ of 4,402Pts) and a 10th for the Nasdaq (+0. 2% to 13,680).
Investors who have not failed to observe a -14% drop in oil prices since October 26 are betting that this phenomenon precedes an imminent easing of tensions in the Middle East.
The other ‘joker’ which can explain today’s rise in Europe is that managers are placing all their hopes in more ‘dovish’ declarations from Christine Lagarde which would align with those of Jerome Powell, the boss of the Fed, 10 days ago.
After a speech that seemed like a non-event yesterday, Jerome Powell will speak again today as part of a conference organized by the IMF in Washington.
The bond markets do not seem to anticipate any ‘revelations’ on this occasion and consolidation prevails.
In the bond compartment, the 10-year T-Bonds rose by +6.3 points to 4.571%, the German bund increased by 3.75 points, to 2.65%, and the OAT +3 points, to 3.231%.
Few ‘macro’ figures this Thursday: weekly unemployment claims in the United States stood at 217,000, a drop of 3,000 compared to the revised level of the previous week, according to the Department of Labor.
The four-week moving average – more representative of the underlying trend – stood at 212,250 last week, an increase of 1,500 compared to the revised average of the previous week.
On the oil market, which has contributed significantly to the recent easing of rates, the price of Brent is up 1%, around $80.5 per barrel.
In the news of French companies, Veolia publishes for the first nine months of the year strong organic growth (at constant scope and exchange rates) of its profits, of 14.2% for its current EBIT, to 2.52 billion euros, and 7.7% for its EBITDA, to 4.79 billion.
ArcelorMittal publishes for the third quarter of 2023 a net profit group share down 6.4% year-on-year to $929 million and an EBITDA down nearly 30% to $1.86 billion, levels however slightly exceeding consensus.
Valneva publishes for the first nine months of 2023, a net loss down 30% to 69.3 million euros, despite a negative adjusted EBITDA increasing from 38 to 46 million from one year to the next, for a figure total business down 55.3% to 111.8 million.
Viel & Cie posts consolidated turnover from its operating subsidiaries of 804.9 million euros for the first nine months of the year, up 8.3% in published data and 11.2% on a current basis. constant exchange rates.
Finally, Michelin announced on Thursday the signing of a technological partnership with Lilium relating to the development and mass production of tires for the American manufacturer of electric vertical take-off aircraft.
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