The Cac 40 takes a new threshold, that of 7,100 points, carried by Wall Street


The scenario was much the same as on Wednesday. Cautious in the first exchanges, the Parisian index Cac 40 gradually gained height, to close Thursday’s session up 0.77% to 7,106.15 points. On Wednesday, he had already crossed 7,000 points. The volume of trade has remained low at 2.65 billion euros as the holidays approach. Across the Atlantic, the Dow jones 0.6% and the Nasdaq Composite 0.7%.

To put into perspective

Like yesterday, the American indicators supported the trend, in particular the consumer confidence index. After the Conference Board statistics for December, which came out beyond expectations, it is the turn of the indicator calculated by the University of Michigan to establish itself above forecasts. It has indeed increased slightly between November and December, reaching 70.6 points, against 70.4 expected. Interviews were conducted between November 22 and December 20. ” There have been too few investigations to understand the impact of the rapid spread of the Omicron variant in the United States “, Relativized Richard Curtin, director of the investigation, in a press release. Before adding: ” Confidence and spending likely to be depressed in January, but it’s too early to know the possible impact of Omicron. And what about inflation? Respondents said they expect prices to rise 4.8% next year and 2.9% over the next 5-10 years.

Among other indicators, US household incomes rose 0.4% on a month in November and spending, even more closely watched, climbed 0.6%, in line with market expectations. Weekly jobless claims stood at 205,000, stable from 206,000 the previous week, and durable goods orders rose more than expected, by 2.5% in November (+ 1.8% expected).

December, new bullish month

I would classify this rebound as a relief rally, but it’s not sustainable yet, said Alberto Tocchio, portfolio manager at Kairos Partners at the Bloomberg financial news agency. I wouldn’t buy and wait for more news and studies on Omicron and Joe Biden’s plan Who recently suffered a setback from Democratic Senator Joe Manchin. ” The Santa rally may have been delayed, but it should still take place ”, Considers, conversely, Esty Dwek, director of investments at Flowbank.

By way of argument, he cites the ever-accommodating policy of the European Central Bank, the approval of Pfizer’s anti-Covid pill in the United States (marketed as Paxlovid) for high-risk patients over 12 years and the last rather reassuring data on Omicron. The variant is said to result in fewer hospitalizations than the Delta strain. It should be noted that Merck’s anti-Covid pill has also just been authorized in emergency in the United States, this Thursday.

Automotive OEMs at the forefront

On the value front, the aircraft manufacturer Airbus (+ 0.68%) won a 10 billion euros contract to the French army for the supply of 169 “Guépard” helicopters, military version of the H160. The first copy is due for delivery in 2027.

Among the strongest increases of the day, we find automotive equipment manufacturers: + 4.11% for Plastic Omnium, + 3.38% for Valeo, + 2.58% for Burelle, parent company of Plastic Omnium, and + 3.47% for Faurecia. German Continental (+ 3%) indicated that it could reach the high end of their margin forecast in 2021, thanks to the resumption of vehicle production in the fourth quarter.




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