The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended with a new record on Thursday, still irresistibly attracted by the peaks even if the trend cooled a little after new stronger-than-expected data on prices in the United States.
The flagship CAC 40 index ended up 0.29%, or 23.84 points, to finish at 8,161.42 points, its new closing record. During the session, it even reached 8,218.07 points, its new absolute high.
The Parisian rating is still “bullish”, pushing it towards new high points even in the absence of positive information for investors, estimates Lionel Melka, manager at Swann Capital.
“Since the end of October, with the confirmation that inflation is about to be brought under control, we have been on a bullish rally” lasting several months, he underlines.
“The real question is what could spoil the party” and cause the indices to fall, continues Mr. Melka, citing geopolitical tensions in Taiwan or the Middle East, the risks of a commercial real estate crisis in the United States. United or the next quarterly results season starting in April.
On Wednesday, however, the trend slowed slightly compared to mid-session after the publication of the producer price indicator in the United States.
As with consumer prices on Tuesday, the one-year indicator rose in February compared to January and surprised economists’ forecasts upwards. Over one year, the increase is 1.6%, the strongest in five months, driven by gasoline prices at the pump.
One week before the meeting of the American Central Bank, these data are not yet sufficient to move things in the minds of investors, who are awaiting the first reduction in the institution’s key rates for June, or even July, believes however Mr. Melka.
On the bond market, the interest rate on the 10-year French bond has continued to rise since the start of the week. It reached 2.87%, its highest level since March 1, against 2.80% on Wednesday.
Records galore
The share prices of many CAC 40 companies also reached records on Thursday: Schneider Electric, Hermes, Air Liquide, Airbus, EssilorLuxottica and Safran, all of which are among the twelve most important stocks in the calculation of the index. On Wednesday, Stellantis and Vinci also established a session high.
bioMerieux less profitable
The French specialist in the detection of infectious diseases indicated that it expected organic growth in its turnover of between 6 and 8% for the 2024 financial year. Last year its profitability was affected by an impairment linked to the acquisition of a Chinese company specializing in immunoassays, Hybiome.
As a result, bioMérieux posted an operating profit in 2023 down 25% to 439 million euros and a net profit down 21% to 358 million euros. Its action fell 0.10% to 100.35 euros.
The Compagnie des Alpes straight to the goals
La Compagnie des Alpes, which continues its diversification outside the mountains, announced on Wednesday that it had signed an agreement with Soccer 5 France to acquire 86.5% of the capital of the Urban group (UrbanSoccer and UrbanPadel), leader in football centers in five. Its title gained 2.84% to 13.62 euros.
© 2024 AFP
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