The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The flagship index of the Paris Stock Exchange, the CAC 40, ended up 0.22% on Wednesday and crossed the symbolic threshold of 7,800 points for the first time at close since its launch in June 1988.
At the end of the session, the CAC 40 increased by 16.87 points to 7,812.09 points, thus setting a new closing record, after having also beaten its all-time high during the session (7,821.93 points). On Tuesday, it had advanced 0.34% and already crossed unprecedented levels both at the close and during the session.
A cocktail of favorable factors contribute to carrying the market: “the euro is not very high compared to the dollar, we are starting to speculate on the idea that China will do better and that the European Central Bank (ECB) will not has no reason to remain aggressive” on its monetary policy, explains Alexandre Baradez, IG analyst.
For Alexandre Baradez, “the focus of the session is on Nvidia”, an American manufacturer of chips for AI and giant of the technology sector, which must publish its annual results after the close of Wall Street (10 p.m. Paris time).
“This expectation is explained by the fact that Nvidia’s results have been so exceptional so far that one wonders if this will continue,” he continues.
And while “the American market has corrected a little in recent days on specific themes such as technology, Europe is more protected”, being “less sensitive” to this theme, explains Alexandre Baradez.
Also in the sights of investors: the publication of the “Fed minutes”, the minutes of the last meeting of the American central bank (Fed), on December 31.
This report should confirm what the market has “already integrated”, that is to say that there is “still a way to go to bring inflation down to 2% and that we still have to be a little patient ” before American central bankers decide to lower key rates, which are at their highest levels in 20 years.
Edenred in the sights of the Italian authorities
On the value side, the Parisian session was marked by the fall of 11.46% to 49.90 euros in the share of Edenred, a prepaid services company which notably markets Ticket Restaurants, after publication in the Italian press information referring to an investigation into fraud targeting the Italian branch of the group.
Carrefour, share buyback on the program
The French distributor Carrefour advanced 4.93% to 16.48 euros after publishing a net profit up 23%, announcing a new share buyback program and an increase in dividends as proof of its “confidence” in his model.
© 2024 AFP
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