The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended stable (+0.01%) on Thursday and concluded the week, shortened for the Easter weekend, the month and the quarter in the green, with the added bonus of a new record reached during the session.
The star CAC 40 index gained 1 point to 8,205.81 points, and reached a new session high in the morning (8,243.33 points). On Wednesday, it ended up slightly by 0.25%.
This new record “is worth noting because it happens the day before an Easter weekend”, notes Edouard Kerhor, financial investment expert at Milleis Banque Privée, who recalls “that it is quite rare to see new catches of positions before the longest market closure of the year.
“This means that the positive element of the markets is always the prospect of falling rates, this is what allows the market to be long and bullish,” he adds.
Over the week, the Parisian rating increased by 0.66% and completed its fifth consecutive month of increase thanks to an increase of 3.51% in March.
Over the quarter, the flagship index of the Paris Stock Exchange increased by 8.78%, after having already gained 5.72% in the previous quarter.
“We were aiming for a 9% increase in the CAC 40 over the year 2024, we did this in one quarter,” indicates Edouard Kerhor, who believes that it is not impossible to see the index decline next quarter.
There was little news this week and the main expected event is the publication on Friday in the United States of the PCE index for February. This is the inflation indicator favored by the Fed.
However, most stock markets around the world will be closed on Friday due to the long Easter weekend and European stock markets will not reopen until Tuesday.
In addition, the chairman of the American Federal Reserve (Fed) Jerome Powell is due to speak on Friday.
A Fed governor, Christopher Waller, said Wednesday evening that it was urgent to wait before initiating a reduction in key rates as long as inflation data does not show “a sustained trajectory” towards 2% target.
Casino unscrews
Casino shares fell 63.42% to 4 cents, after remaining suspended throughout the session the day before at the group’s request, the day after the takeover of the distributor, managed for 20 years by Jean-Charles Naouri, by Czech billionaire Daniel Kretinsky.
Since the start of the year, the stock has lost more than 95% and its market capitalization now stands at around 1.46 billion euros.
© 2024 AFP
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