CAC40: flirting with 7800 pts, setting new records

( – The Paris Stock Exchange ended the session with a gain of 0.34%, at 7,795 points, a historic closing level, made possible by the performances of Air Liquide (+8.3%), Veolia ( +2.6%) or even Carrefour (+2.4%).

In addition to this closing record, the Parisian index briefly reached 7805 points a few moments before the final bell, an altitude which had never been reached until then.

On the statistics front, investors took note of a rebound of +0.8% sequentially (and +1.9% annually) in the construction sector in the euro zone in December, after two consecutive months contraction, according to Eurostat (the statistical office of the European Union).

Analysts at Capital Economics, however, expect a bout of weakness in the construction sector this year, after the peaks reached last spring.

‘We expect construction to decline again in 2024, mainly due to Germany’s poor performance,’ says the London-based economic research office.

In the United States, the Conference Board’s leading indicators index fell by -0.4% (22nd consecutive month of decline) but this is a little better than the 0.5% decline that was anticipated.

As a result, the Conference Board says it no longer expects a recession in the United States this year, but warns that it anticipates a slowdown in growth to levels close to zero in the second and third quarters.

In the bond compartment, the yield on ten-year Treasuries fell by -4.5 points to 4.251% (+50 points since the start of the year), the drop in yields flirted with -4 points in Europe with Bunds at 2.371 %.

Note that the euro gains nearly 0.3% against the greenback around $1.08/E.

The oil market remains torn between hopes of a recovery in the global economy and fears of a slower-than-expected recovery in demand. In this context, Brent fell by 1.2%, to around $82.3 per barrel.

In business news, Bic (+8.7%) published last night a turnover of 526.1 ME for the 4th quarter, stable in published data (-0.1%) and up by 2.4% on a comparable basis, compared to the 4th quarter of the previous financial year.

Air Liquide published this morning for the past year a group share of net income up 11.6% to 3.08 billion euros, or 5.90 euros per share, and recurring net income up. of 13.3% excluding currency effects. Investors welcome the increase in the anticipated margin in 2024 as well as the increase in the dividend (+1 free share distributed in the spring, a traditional ‘gift’).

CGG announces the delivery of a new CCUS (Carbon Dioxide Capture, Utilization and Storage) study to assess potential CO2 storage sites in the fast-growing South East Asian region.

Neoen indicates that it has reached the milestone of 1 GW (gigawatt) of renewable energy capacity in operation or under construction in the Nordic countries, five years after launching the construction of its first wind power plant in Finland.

Finally, Orange and Masmovil announce that they have received authorization from the European Commission to combine their activities in Spain, in the form of an equal, co-controlled joint venture, with equal governance rights at company level. combined entity.

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