The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange gained 0.13% on Wednesday morning, remaining well oriented thanks to the prospect of lower interest rates this year.
The flagship CAC 40 index rose 11.60 points to 8,099.08 points around 9:40 a.m. On Tuesday, it gained 0.84% to finish at a new record at 8,087.48 points.
In early trading on Wednesday, it exceeded 8,100 points for the first time and reached a session high of 8,107.41 points.
Wall Street indices ended sharply higher on Tuesday and the S&P 500 rose to a new closing record.
Tuesday’s publication of underlying inflation, which excludes energy and food prices, falling in the United States in February reassured investors in their scenario of a reduction in Federal Reserve rates. (American Fed) this year.
“The inflation surprise is not enough to call into question the prospect of Fed rate cuts later in the year,” estimates the LBPAM research and strategy team.
But they believe that “the latest inflation figures are clearly not going to give the Fed the ‘additional confidence’ that it is waiting for before starting to lower its rates.” To curb high inflation, the central bank raised its rates 11 times between March 2022 and July 2023.
These analysts are betting that a “first rate cut should not take place before June at the earliest”.
The US central bank’s monetary policy committee meets next week and is expected to keep key rates unchanged for this month.
On the European side, in the United Kingdom, the economy regained momentum in January with growth of 0.2% over one month, after a contraction of 0.1% in December.
Vallourec in the fold of ArcelorMittal
The French group Vallourec, specializing in seamless tubes, announced on Tuesday that the steelmaker ArcelorMittal would become its new reference shareholder by purchasing the stake previously held by the American fund Apollo for 955 million euros.
Vallourec’s action climbed 6.57% to 15.83 euros, while that of ArcelorMittal lost 1.42% to 24.32 euros.
Casino does its market
Former Macronist Secretary of State Laurent Pietraszewski will chair the board of directors of Casino (stable at 55 euro cents) once its buyers, led by Czech billionaire Daniel Kretinsky, take control at the end of March, according to the distributor’s financial documentation published Tuesday evening.
© 2024 AFP
Did you like this article ? Share it with your friends using the buttons below.
