(CercleFinance.com) – The CAC40 ended the session at 8,204 points (+0.25%), thus signing a new absolute closing record, supported by Veolia (+1.9%), Orange (+1.6%) or STMicro (+1.5%).
Note that in the middle of the afternoon, the Parisian index had already set a new absolute record by briefly visiting 8,230 points.
‘Most of the performance of the equity markets since the start of the year, and even over the last 18 months, is due to the expansion of valuation multiples’, analyze the JPMorgan teams.
‘At the global level, 12-month forecast profits have increased by only 7% compared to their lowest levels, while the price/earnings ratio (PER) has increased by almost 30%’, underlines the bank American.
Investors now seem to be waiting for new signs of good health in the economy and confirmation of the decline in inflation to prolong the upward movement that has been underway since the fall.
With this in mind, the markets will focus their attention on Friday on the statistics of American household income and spending, which will be accompanied by the ‘PCE’ component of prices, the Fed’s preferred measure of inflation.
In the meantime, the ‘macro’ news is discreet on Wednesday: according to data published by the American Energy Information Agency (EIA), crude oil stocks in the United States amounted to 448.2 million barrels during the week of March 18, signaling an increase of 3.2 million barrels compared to the previous week’s level.
In detail, stocks of distilled products – including domestic fuel oil – fell by 1.2 million barrels, while gasoline stocks increased by 1.3 million barrels, still compared to the previous week. continues the agency.
Finally, the EIA specifies that refineries operated at 88.7% of their operational capacity during the same week, with an average production of 9.2 million barrels/day.
On the bond front, the session turned out to be favorable for T-Bonds with -3.5Pts to 4.19%, Bunds relaxed by -4.8Pts to 2.29%, our OATs from -4.7Pts to 2.7850% (same difference for Italian construction at 3.607%.
The Euro loses a few fractions against the Dollar (-0.15% towards 1.0815$/E).
In the news of French companies, the composite canvas manufacturer SergeFerrari Group published for 2023 a net profit group share (RNPG) of 4.7 million euros, compared to 15.5 million in 2022, as well as a REBIT of 11.3 million, compared to 26.5 million the previous year.
After carrying out a first sale of Nissan shares last December, Renault Group announces a second operation with the intention of selling up to 100,242,900 Nissan shares, representing approximately 2.5% of the Japanese’s capital.
OVHcloud announced on Wednesday the establishment of a strategic partnership with OneNeck IT Solutions, with the objective of offering services to their common customer base, initially in the United States.
Finally, TotalEnergies announced the launch of a mobility card intended to allow its customers to recharge their electric vehicles anywhere in France. Called ‘Charge+’, this card will provide access to a network of 100,000 public charging points spread across France.
Separately, the company said its subsidiary Saft has delivered backup batteries for critical safety systems in tunnels along a new section of the USBRL rail link in the Kashmir Valley in the Indian Himalayas. .
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