The Paris Stock Exchange recorded an increase of 0.80% on Wednesday, the sixth increase out of eight sessions of 2023, in an optimistic environment before the December US inflation figures expected on Thursday.
The flagship CAC 40 index took 55.05 points to 6,924.19 points the day after profit taking which had caused it to fall by 0.55%. The Parisian rating is thus approaching the threshold of 7,000 points, which has not been exceeded since mid-February 2022.
For Alexandre Baradez, analyst at IG France, there is a part of “mimicry” and “fear of missing the + rally +”, the wave of rising stock market indices, in the trend observed since the beginning of the year.
Slowing inflation and China’s economic reopening have supported markets since the start of the year. The European indices are also benefiting from the mild weather and the drop in gas prices, adds Alexandre Hezez, strategist at the Richelieu group.
However, “the themes China, lower energy prices and slowing inflation” have already been priced into the markets at the end of the year and “there is no significant improvement since the beginning of the year”, recalls Alexandre Baradez, who is therefore not completely convinced of the merits of the current leap.
Investors are eagerly awaiting the December CPI inflation indicator in the United States, which will be released on Thursday, to confirm the slowdown.
Analysts expect prices to stagnate over one month and slow down over one year to 6.5%, which they believe would allay fears of further monetary tightening by the US central bank (Fed).
In France, market operators could cling to good news, the Banque de France having indicated on Wednesday that the French economy continued to hold firm and that it should register a stabilization in January, after a slight growth at the end of 2022. .
Gold rating for LVMH
The market capitalization of the French luxury giant LVMH reached 389 billion euros on Wednesday, an all-time high higher than the last peak in January 2022. The first company in the CAC 40, the company is also the largest European market capitalization and is one of the fifteen largest in the world.
LVMH also announced on Wednesday the appointment of Delphine Arnault, daughter of Bernard Arnault, as CEO of Christian Dior, while Pietro Beccari, who held this position, will take over as head of Louis Vuitton, the leading luxury brand. in the world.
The title gained 2.12% to 772.30 euros, also a record for the share price.
In its wake, Hermès rose by 0.87% to 1,620.50 euros and Kering by 3.64% to 543.40 euros. The market capitalization of Hermès reached 172 billion euros, close to its record of November 2022 at 177 billion euros.
Orpea goes back step by step
The action of the Ehpad Orpea group jumped 14.30% to 8.65 euros on Wednesday and has risen 40% since the start of the year. This rise is mainly fueled by speculation around an entry into the capital of Caisse des dépôts.
Tuesday, the director general of the Caisse des Dépôts (CDC) Eric Lombard confirmed before the finance committee of the National Assembly that “discussions were in progress”.
According to the newspaper Les Echos, the CDC would be ready, in collaboration with institutional investors, to provide “at least the majority of the billion and a half euros hoped for by the Ehpad group” to bail out.
In 2022, the group’s stock fell 93% after the publication of an investigative book that accuses the company of mistreating its residents.
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