The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange once again finished sharply higher on Wednesday (+0.62%), persevering in its upward trend for several weeks until it exceeded 8,150 points during the session.
The flagship CAC 40 index ended up 50.10 points at 8,137.58 points, its new closing record. During the session, it even went up to 8,156.64 points.
The 8,000 points, exceeded for the first time on March 7, already seem far away for the Parisian rating, carried once again by its heavyweights. Wednesday, LVMH (+0.95%), TotalEnergies (+1.76%), L’Oréal (+0.80%), Schneider Electric (+2.13%), the four most important companies in the calculation of the index, finished in the nine best progressions of the session.
Few macroeconomic news punctuated the day, after the important session on Tuesday which saw inflation in the United States rise in February, but not enough to scare investors and make them doubt their rate cut scenario directors of central bankers.
“We remain in June or July for the American Central Bank on the first reduction. In the euro zone, the last two officials who spoke seem to indicate rather in June, but the calendar is less obvious because it remains not “bad meetings”, and reductions could occur earlier depending on the economic situation, estimates Aurélien Buffault, bond manager at Delubac AM.
On the bond market, government interest rates, on the other hand, increased, going from 2.72% on Friday for the 10-year French bond, the benchmark maturity, to 2.80% at the close on Wednesday. .
“There are a lot of movements during the session” on rates, he also underlines.
The US central bank’s monetary policy committee meets next week. He is expected to keep key rates unchanged for this month, but President Jerome Powell’s indications for the coming months will still be closely followed.
Bnp Paribas wants to make more savings
The BNP Paribas bank announced on Wednesday an acceleration of its savings measures and confirmed its forecasts for an increase in its distributable profit.
BNP Paribas announces “an acceleration and expansion of operational efficiency measures” by 400 million euros, “thus bringing the objective of the 2022-2025 plan to 2.7 billion euros” in savings. The action gained 2.08%, to 60.95 euros, the second best increase in the flagship index during the session.
Alstom specifies its governance timetable
Alstom announced that the planned change in its governance will take place on June 20, the date on which the former general director of Safran, Philippe Petitcolin, will take up his duties as chairman of the board of directors of the railway group. The company, in the CAC 40 until Friday, achieved the worst performance of the session (-2.14% to 11.90 euros).
Vallourec in the fold of ArcelorMittal
The French group Vallourec, specializing in seamless tubes, announced on Tuesday that the steelmaker ArcelorMittal would become its new reference shareholder by purchasing the stake previously held by the American fund Apollo for 955 million euros.
Vallourec’s action jumped 7.41% to 15.94 euros, while that of ArcelorMittal gained 0.30% to 24.74 euros.
© 2024 AFP
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