The Paris Stock Exchange rose 0.17% on Tuesday in the first exchanges, approaching its historic high with investors still inclined to riskier investments.
The star CAC 40 index advanced by 12.77 points to 7,358.73 points around 9:25 a.m. The day before, he had gained 0.32%, during his sixth session of consecutive increase.
The Parisian coast is only a stone’s throw from the 7,400 points it had slightly exceeded in session on March 6 for the first and only time. At the start of the session, it rose to 7,384.31 points.
Investors have cashed Monday the spectacular jump in oil prices after the decision of several major exporting countries to reduce their production. On Tuesday, the price of a barrel of Brent and WTI rose again, but slightly.
If the upward trend in the price of a barrel of oil were to continue, there will obviously be impacts in terms of inflation, growth and international relations, warns John Plassard, investment specialist for Mirabaud.
This decision is therefore particularly harmful for central banks because it risks reigniting inflation, also explains Michael Hewson, of CMC Markets.
They would then be tempted to continue to raise their key rates sharply, their main tool to fight against the rise in prices, but the economy is already weakening and the banking crisis in March showed that the situation could quickly deteriorate.
Investors expect Tuesday to know the evolution of producer prices in the euro zone (PPI) for February, as well as durable goods orders in the United States for the same month.
They will also start looking closely at US employment data, with a first indicator on the number of job vacancies.
The monthly report for March is due on Friday but markets in Europe and the US will be closed on that day and it will be necessary to wait until the end of the long Easter weekend on Tuesday to see their reaction.
The Oral buys in Australia
L’Oral, the world’s number one cosmetics company, took 1.09% to 416.00 euros after announcing overnight the signing of an agreement with Natura & Co for the acquisition of Aesop, the Australian luxury cosmetics brand, valued 2.525 billion dollars.
The L’Oral Luxe category (Lancme, Yves Saint Laurent, Giorgio Armani, etc.) occupied for the second consecutive year in 2022 the first place within the various divisions of the group with 14.6 billion euros in sales (+18, 6%).
Banks go up again
Stock market prices of banks continued to recover after their heavy losses in March: Socit Generale took 3.20% to 21.45 euros, BNP Paribas 2.25% to 56.45 euros and Credit Agricole 1.42% to 10.55 euros.