The Paris Stock Exchange kept the pace of its previous sessions with a slight increase of 0.34% at the close on Tuesday, fueled by the hope of a slightly less strict policy from central banks in the coming weeks.
The flagship CAC 40 index gained 22.63 points, to 6,592.58 points, in a once again low trading volume of 2.47 billion euros. The day before, he had taken 0.25%. It has recorded four increases in the last five sessions.
“The overall framework for August remained the same” on Tuesday confirms Guillaume Chaloin, head of equity management at Meeschaert Amilton AM.
Investors take with detachment the mixed economic indicators published in recent days, as on the US real estate sector on Tuesday.
“We came back to the theme + bad news is good news +” explains Mr. Chaloin.
Investors hope that a deterioration in economic activity, coupled with the slowdown in inflation, will encourage central banks to be less strict on their monetary policy. Expectations of key interest rate hikes by the US Central Bank (Fed) for the rest of the year have therefore fallen compared to the start of the summer.
Wednesday, the report of the discussions of the last meeting of the policy committee of the Fed will make it possible to better gauge the state of mind of the persons in charge for the institution.
Oil and mines energize indices
In the red on Monday with the fall in oil prices and concerns about activity in China, oil-related companies and mining this time pulled the index up, after in particular well-received results from the Australian BHP.
ArcelorMittal rebounded 3.13% to 24.87 euros, Eramet 7.40% to 107.40 euros. TotalEnergies also took over 1.56% to 51.50 euros.
Aviation takes off
Several companies linked to aeronautics, and in particular defense, progressed significantly on Tuesday, such as Thalès (+ 2.55% to 124.55 euros) and Airbus (+ 1.60% to 110.54 euros) on the CAC 40 or even Dassault Aviation (+2.44% to 147.00 euros), Eutelsat (+4.32% to 9.18 euros), and Aéroports de Paris (+2.06% to 144.85 euros) on the expanded SBF 120 index.
Tech is blowing
Technology was the most struggling sector, after the rebounds of the last sessions. It is particularly affected by the rebound in interest rates on the bond market, that for the French 10-year loan having erased its decline on Monday to return to 1.55%. Teleperformance fell 1.80% to 310.40 euros, Dassault Systèmes by 1.49% to 42.75 euros, Capgemini by 0.34% to 188.25 euros.
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