The Paris Bourse ended up 0.75% on Wednesday, leaving aside fears of an excessively penalizing tightening of monetary policy while US inflation came out in line with expectations.
The flagship CAC 40 index increased by 53.81 points to 7,237.19 points. The day before, he had gained 0.95%.
The Parisian coast opened sharply upwards, and after an air gap in the first exchanges, was permanently registered in the green. It kept its gains after the December inflation figure in the United States, the most anticipated indicator by the markets this week.
The rise in prices has accelerated for several months in Western economies, forcing central banks to tighten the screw in the hope of containing it.
Consumer prices in the United States climbed 7% over the year 2021 according to the Consumer Price Index (CPI) published by the Department of Labor, the largest year-over-year increase since June 1982.
However, the figures were in line with market expectations, “there was no surprise effect,” said Andrea Tuni, analyst at Saxo Bank.
The week before, investors had worried about the possibility of a more restrictive monetary policy of the American Federal Reserve (Fed) after the publication of the discussions of the last monetary committee. Tuesday, the president of the institution Jerome Powell “had already reassured the markets”, during his hearing at the American Snat, notes Mr. Tuni.
He said in particular that raising rates should not have a negative impact on the job market as the economy “recovers incredibly quickly” from the crisis caused by the pandemic.
US 10-year bond yields, which rose to 1.80% Monday, a two-year high, stabilized 1.72%. European and French rates, even chance, also eased.
In the end, “the market has again shown resilience. It is a pattern similar to that observed several times last year, the downward phase was quickly compensated,” observes the analyst.
According to him, the next meetings will be more micro-economic, with the annual results of companies. The American banks open the ball on Friday and the publications will be enchanted until February.
ArcelorMittal at its highest for 10 years
ArcelorMittal shares changed 33.02 euros during the session, its highest level in 10 years. It closed up 6.50% to 32.59euros, driven by the tension on the commodity markets, especially steel. Eramet also jumped 6.72% 81.75 euros.
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TotalEnergies also took 3.07% 49.06 euros, boosted by the rise in the price of oil barrels (+ 3.5% in three days for Brent London), which are approaching their high of 2021, affected at the end of October .
OVHCloud confirms its 2022 outlook
The action (+ 4.56% 25.58 euros) took advantage of the announcement of a turnover up 13.5% in the first quarter of the fiscal year 2021/2022, in line with the objectives. The European cloud champion has also confirmed its medium-term growth forecasts (organic growth of around 25% by 2025).
TF1 and M6 hand in hand
The two television channels, which are negotiating for a merger, have experienced similar progress (+ 2.01% 18.24 euros for M6 and + 2.14% 9.08 euros for TF1) while a new chairman has been confirmed. for the Competition Authority, which will have to approve the project.
“It” is an operation which does not go without saying, when one looks at the potential market shares of the new group, in particular on the advertising market. But there are other considerations to take into account, which can only come out of market tests, “said new president Benot Coeur.