The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange set a new record in points on Tuesday as well as a new closing record, continuing to progress (+0.48%) thanks to the resistance of the European economy.
The flagship CAC 40 index gained 36.66 points to 7,677.47 points, reaching a new closing high for the third consecutive session.
At the start of the session, it even reached 7,686.03 points, erasing its previous mark of December 14.
The Parisian rating joins in this the Wall Street indices or the Frankfurt Dax, also around their records.
In the middle of the corporate results season, “the publications we see in technology and luxury justify that the markets are at a higher level”, estimates Sasha Hedelin, manager at Amplegest. LVMH’s results on Friday notably allowed the CAC 40 to experience its best session in a year.
In Paris, numerous results are expected on Thursday, notably Dassault Systèmes, Bnp Paribas, Sanofi for the CAC 40 index.
Across the Atlantic, the “tech” giants Microsoft and Alphabet (parent company of Google) will publish their figures this evening.
Investors also had to take note of a multitude of economic indicators. The euro zone’s Gross Domestic Product (GDP) stagnated in the fourth quarter, which is a little better than the 0.1% contraction expected by economists.
Inflation is expected on Thursday, and “if we agree on the trajectory” of disinflation “there can always be jolts” which delay the landing towards the target of 2% annual price increase, warns the manager .
On Wall Street, it is employment data that keeps investors busy. The number of vacant jobs was higher than expected, “a sign of a still tense job market”, for Ms. Hedelin.
The evolution of the labor market is a key indicator for the American central bank, which meets Tuesday and Wednesday to calibrate its monetary policy. The markets especially hope to find clues on the next decisions at the end of the press conference of its president Jerome Powell on Wednesday.
On the bond market, the interest rate on the 10-year French loan, the benchmark maturity, increased to reach 2.76% compared to 2.72% on Monday.
On Friday, the official monthly employment report in the United States will also be published.
Ampere: Renault short-circuits the stock market
Investors welcomed the cancellation by Renault (+1.27% to 34.74 euros) of the IPO of its electric subsidiary, Ampere, announced Monday evening.
Stellantis also gained 3.84% to 20.22 euros, at the top of the CAC 40.
Oil companies are struggling
Vallourec fell by 6.26% to 13.10 euros, CGG by 5.89% to 0.44 euros and Technip Energies by 2.47% to 19.38 euros.
© 2024 AFP
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