(CercleFinance.com) – The Paris Stock Exchange ends the session with a gain of 0.48%, at 7,677 points, driven by Stellantis (+3.8%), Saint-Gobain (+2.4%) and Publicis ( +1.3%) despite very limited volumes with barely 2.5 billion euros exchanged since opening.
The CAC40 sets a new closing record this evening, a few moments after setting its absolute session record with a peak of 7,686 points.
After a period of near stagnation stretching between January 4 and 24, the Parisian market has just gained nearly 4.5% in less than ten days.
‘The dominant feeling on the stock market is optimism,’ summarizes Christopher Dembik, investment strategy advisor at Pictet AM.
‘Even if there are uncertainties about the evolution of monetary policy, which are likely to be confirmed by the Federal Reserve this week, investors consider that the economy is sufficiently solid and that company results are at meet up’, adds the analyst who judges the stocks ‘resilient and essential’.
If there is little doubt about the prospect of a ‘status quo’ by the Fed tomorrow, the speakers will try to decipher the speech of its president, Jerome Powell, in order to detect possible clues concerning the timetable for future reductions in rate.
On the statistics front, the 1st preliminary flash estimate published by Eurostat this morning demonstrates the stability of the GDP of the euro zone and the EU in the 4th quarter compared to the previous quarter.
In France, GDP remained stable in the fourth quarter (-0.02%), according to data published this morning by INSEE, after having already remained unchanged in the third quarter. On average over the year 2023, French GDP increased by 0.9% (after +2.5% in 2022 and +6.4% in 2021).
Investors are also awaiting the results of technology giants Microsoft, Alphabet and AMD, due this evening and on which they have high hopes (valuations are in the stratosphere: no disappointment will be tolerated).
‘There will be no room for error because the results season is currently quite average,’ says Alexandre Baradez, head of market analysis at IG France.
The professional argues that American stocks are currently operating in an expensive environment where the S&P 500 is paying 20 times anticipated profits (50 times for ‘GAFAM’ + Nvidia), despite rates which remain high.
The improvement in the bond compartment from the day before fizzled out in Europe where yields rose by +5 points on average on average, our OATs deteriorated by +5 points towards 2.78%, Bunds by +4.5 points towards 2 .28%.
In the US, T-Bonds stabilize at around 4.09% (+0.5Pt): they cannot offer real support to the stock markets like Monday.
Brent is stable, around $82.5 per barrel. The euro is also stable against the greenback, around $1.08/E.
In French company news, Seb announces the construction of its first professional equipment hub in Shaoxing, in Zhejiang province in China, a hub which should be operational by 2025 and will include an R&D center, purchasing, as well as a production site.
Engie announces the signing with Amazon of a power purchase agreement (CPPA) for 123 MW from Ocean Winds’ Moray West offshore wind farm, off the coast of Scotland, thus reaching a total of 473 MW when the site will be operational during the year.
Air Liquide announced on Tuesday the launch with TotalEnergies of a European joint venture dedicated to the distribution of hydrogen for heavy goods vehicles.
TotalEnergies also announced the signing of an agreement with the Wenea group with a view to building a major player in electric mobility in Spain, by developing a network of fast charging hubs.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
