The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange moves up 0.61% in the first trades of the year 2024 on Tuesday, before assessing whether or not the state of the economy justifies investors’ expectations relating to a relaxation of monetary policy central banks.
The flagship CAC 40 index rose by 45.95 points to 7,589.13 points around 9:25 a.m. On Friday, it ended 2023 up 0.11% on the session, notching an annual gain of 16.52%.
The Parisian rating benefits in particular from the clear increase in TotalEnergies (+2.15% to 62.16 euros), one of the heavyweights of the financial market, in the wake of the rebound in oil prices. Other stocks linked to the price of oil also appreciated, such as Vallourec (+2.50% to 14.38 euros), or Technip Energies (+1.94% to 21.57 euros).
The rise in stock market indices, marked over the past two months, reflects “optimism about the possibility of a soft landing” for the economy, explain Deutsche Bank analysts.
On the agenda, investors are awaiting in particular on Tuesday the final estimate of the PMI activity indicators in December on industry for the euro zone, the United Kingdom then the United States. In all countries, the first assessment showed a strong contraction. The same indicator for services is expected on Thursday.
They will also focus on the state of the labor market in the United States, with employment data which will run from Wednesday until the publication of the monthly report on Friday.
Inflation will also be in the spotlight, with the publication of December data for the euro zone on Friday.
On the bond market, the interest rate on the French government loan continued to rebound, after hitting its lowest in a year on December 27: the 10-year maturity, which is the benchmark, showed a rate of interest of 2.61% around 9:25 a.m., compared to 2.56% on Friday and 2.40% on Wednesday, December 27.
Bnp Paribas reaches agreement on Helvet Immo
After its conviction on appeal at the end of November in the Helvet Immo property loan affair, the bank found an amicable solution with the consumer association CLCV, which could cost it between 400 and 600 million euros. . The action gained 0.86% to 63.15 euros.
Danone gets lighter again
The agri-food giant Danone (+0.53% to 58.99 euros) announced on Tuesday the sale of Horizon Organic and Wallaby, two American brands of organic dairy products, to Platinum Equity, an investment fund based in the United States, as part of its strategy aimed at shedding activities deemed non-essential.
© 2024 AFP
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