The Paris Stock Exchange once again finished sharply higher on Wednesday (+0.62%), persevering in its upward trend for several weeks until it exceeded 8,150 points during the session.
The flagship CAC 40 index ended up 50.10 points at 8,137.58 points, its new closing record. In session, it even rose to 8,156.64 points.
The 8,000 points, exceeded for the first time on March 7, already seem far away for the Parisian coast, carried once again by its heavyweights. Wednesday, LVMH (+0.95%), TotalEnergies (+1.76%), L’Oral (+0.80%), Schneider Electric (+2.13%), the four most important companies in the calculation of the index, finished in the nine best progressions of the sance.
Few macroeconomic news punctuated the day, after the important meeting on Tuesday which saw inflation in the United States rise in February, but not enough to scare investors and make them doubt their rate cut scenario. directors of central bankers.
We remain in June or July for the American Central Bank on the first reduction. In the eurozone, the last two officials who spoke seemed to indicate June, but the timetable is less clear because there are quite a few meetings left, and reductions could come sooner depending on the economic situation. , estimates Aurlien Buffault, bond manager at Delubac AM.
On the bond market, government interest rates increased, however, from 2.72% on Friday for the 10-year French bond, the benchmark maturity, to 2.80% at the close on Wednesday.
There are a lot of movements in the market on rates, he also points out.
The monetary policy committee of the American central bank meets next week. He should keep key rates unchanged for this month, but President Jerome Powell’s indications for the coming months will still be closely followed.
BNP Paribas wants to make more savings
The BNP Paribas bank announced on Wednesday an acceleration of its savings measures and confirmed its forecasts for an increase in its distributable profit.
BNP Paribas announces an acceleration and expansion of operational efficiency measures by 400 million euros, thus bringing the objective of the 2022-2025 plan to 2.7 billion euros in savings. The action gained 2.08%, 60.95 euros, the second best increase in the flagship health index.
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Alstom specifies its governance timetable
Alstom announced that the planned change in its governance will take place on June 20, when the former general director of Safran, Philippe Petitcolin, will take up his duties as chairman of the board of directors of the railway group. The company, in the CAC 40 until Friday, achieved the worst performance of the session (-2.14% to 11.90 euros).
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 buying back the stake hitherto held by the American fund Apollo for 955 million euros.
Vallourec’s action jumped 7.41% to 15.94 euros, while that of ArcelorMittal gained 0.30% to 24.74 euros.