The Paris Stock Exchange closed up 0.11% on Tuesday, after a session without major movements due to lack of major economic news, pending the next decisions of the American and European central banks next week.
The star CAC 40 index gained 8.09 points to finish at 7,209.00 points. The day before, the Parisian place had dropped 0.96% to finish with 7,200.91 points.
This morning there were two macro-economic figures slightly below expectations, but the main reason for this lack of direction is that the markets are waiting for central banks, summarizes Edouard de Kerhor, financial investment expert working at Milleis Banque.
In Germany, orders placed in German industry continued to fall in April (-0.4%), after a record drop in March, which is fueling fears of a deeper recession in Europe’s largest economy.
In the euro zone, retail sales fell year on year, but a little less than analysts expected.
And then, after a fanfare in the first half of the year, it is also a normal breathing phase for the market, adds Edouard de Kerhor, particularly before the next meetings of the American Federal Reserve (Fed) and the Central Bank European Union (ECB).
The Fed meeting will take place on June 13 and 14, that of the ECB on June 15.
Market participants expect a pause in the U.S. policy rate hike cycle, but see that possibility as slightly less likely than in early May, after mixed economic data and statements from officials at the institution paving the way for another raising.
Regarding the ECB, statements by Christine Lagarde (its president) suggest an upcoming rate hike, says the analyst.
The key rates of the European monetary institution will be reduced to levels sufficiently restrictive to allow a rapid return of inflation to our medium-term objective of 2% and will be maintained at these levels for as long as necessary, said Ms. Lagarde on Monday.
Health in shape
Health companies, a sought-after sector on the markets in a period of fear for growth, are at the forefront of the scene in the wake of the Danish laboratory Novo Nordisk which announced on Monday that it had entered into exclusive negotiations to acquire the Auvergne plastics processor Biocorp ( +15.70% 33.90 euros).
In Paris, Sanofi, gained 2.47% 62.12 euros, Sartorius 2.73% 271.30 euros, Biomrieux 3.06% 95.90 euros, Valneva 2.97% 5.97 euros and Eurofins 2.47% 62.12 euros .
Double dose of Cointreau
Remy Cointreau gained 2.92% to 142.70 euros after UBS analysts reiterated their buy recommendation on the stock, according to a note quoted by Bloomberg.
New showcase for Publicis
Publicis gained 3.46% to 72.34 euros after announcing the acquisition of Corra, a specialist in e-commerce sites, by its subsidiary Publicis Sapient, dedicated to the digital transformation of businesses.
Safran targets certain assets of Raytheon Technologies
The French aeronautical equipment and engine manufacturer Safran closed down 0.22% at 136.94 euros after confirming on Monday after the market that it was in discussions for the potential acquisition of certain flight control and actuation activities from the American group Raytheon Technologies. .