The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / Eric PIERMONT)
The Paris Stock Exchange on Friday maintained its momentum from the previous day, sparked by encouraging figures on American inflation, to which were added announcements of the relaxation of several anti-Covid measures in China which delighted the luxury sector, heavyweight of the Paris square.
The CAC 40 index rose 0.96% to 6,619.81 points around 10:10 a.m., the day after a 1.96% jump caused by the publication of figures showing a slowdown in inflation in the United States in October, which triggered a frenzy of stock buy orders in the markets.
For investors, if inflation has fallen more than expected in the United States, it is because the tightening of monetary policy by the American central bank (Federal Reserve) is finally bearing fruit, which could encourage it to finally slow down the pace of its rate hikes at its next meetings.
“Expectations for the December Federal Reserve Monetary Policy Committee (FOMC) meeting have shifted sharply after the inflation report,” notes John Plassard, investment specialist at Mirabaud.
Thus “the market is now firmly in the camp of a 50 basis point rise, which would be a slower pace than the previous 4 rate hikes (75 basis points)”, he specifies.
Reinforcing this new enthusiasm, Beijing announced on Friday a relaxation of several measures against Covid-19 aimed at travelers from abroad, in particular a reduction of the quarantine on arrival, which passes from ten to eight days, and the end the sudden cancellation of flights.
Luxury, mining and air travel driven by China
News of a simplification of international arrivals in China lifted stocks in the luxury industry, for which the Chinese market is very important, as well as stocks in the airline and mining sectors.
Luxury recorded an increase of 3.20% to 549.10 euros for Kering, 3.01% to 707.50 euros for LVMH and 1.73% to 1,459 euros for Hermès, around 10:24 a.m.
In the air, Air France-KLM took 4.93% to 1.41 euro, Airbus rose by 1.40% to 114.70 euros and Aéroports de Paris by 1.30% to 143.90 euros.
In basic resources, ArcelorMittal advanced 3.51% to 25.53 euros, Eramet 3.86% to 78.10 euros and Aperam 3.84% to 30 euros.
Teleperformance resumes its rising listing
Trading in call center giant Teleperformance resumed on Friday morning, after being suspended Thursday at the company’s request as its stock plummeted more than 33% on allegations of breaches of law. of labor in Colombia that the group vigorously contested. The title rose 5.20% to 185.10 euros at 10:28 a.m., but lost more than 30% over the week.
© 2022 AFP
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