The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / ERIC PIERMONT)
The Paris Stock Exchange gained 0.34% on Tuesday, just enough to record new records at the close and during the session, thanks to a jump from the industrial gas group Air Liquide which delighted the market with its annual results.
The flagship CAC 40 index rose 26.67 points to reach a new closing record at 7,795.22 points. Its highest level during the session is now at 7,804.54 points.
“It is microeconomics that prevails,” observes Philippe Cohen, portfolio manager at Kiplink Finance, regarding Tuesday’s session and more broadly the week which promises to be poor in macroeconomic indicators.
“The macroeconomic figures are good, this pushes back the rate cut deadline, so the market is refocusing on the microeconomy,” he adds.
Company results continue to be published regularly and occupy the minds of investors.
Tuesday, “the French market is driven by Air Liquide and in the United States investors are anticipating Nvidia’s results and there is profit taking”, continues Philippe Cohen.
The industrial gases group Air Liquide, whose net profit exceeded the 3 billion euro mark for the first time in 2023 and doubled its operating margin forecast by the end of 2025 excluding the energy effect; jumped 8.26% to 185.86 euros, the best performance of the CAC 40.
Eighth value in the index, the group has established a new market valuation record (97.5 billion euros) and is approaching the circle of 100 billion euros in capitalization.
Sanofi gained 1.06% to 87.13 euros. Several large private investment funds have expressed interest in purchasing its Consumer Health entity, reported the financial information agency Bloomberg.
The French group Bic, whose profit jumped by 14% to 226.5 million euros in 2023, with sales driven primarily by razors, appreciated by 8.72% to 67.95 euros.
The action of the automotive equipment manufacturer Forvia, on the other hand, fell further by 9.65% to 12.68 euros after falling by 12.7% on Monday following the presentation of its annual results and an expansion plan. savings which could reach 500 million euros per year by 2028 and “impact up to 10,000 jobs”.
Valeo also fell by 4.16% to 10.47 euros and Plastic Omnium by 1.08% to 10.12 euros.
Euronext CAC40