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 microeconomics,” 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 performance of American chip giant Nvidia will indeed be particularly scrutinized on Wednesday to determine whether investors’ appetite for artificial intelligence has not gone too far.
Air Liquide inflates
The industrial gases group Air Liquide announced on Tuesday a net profit above the 3 billion euro mark for the first time, at 3.07 billion (+11.6%) and doubled its operating margin forecast by the end of 2025 excluding energy effects.
The announcement was welcomed by analysts, such as those at Jefferies, and the stock jumped 8.26% to 185.86 euros, the best performance on the CAC 40.
Eighth largest 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 attracts
Several large private investment funds, including Advent International, Blackstone, Bain Capital, CVC Capital Partners, EQT AB and KKR, have expressed interest in purchasing the Consumer Healthcare entity of the French pharmaceutical group Sanofi, reports the agency financial information Bloomberg. Its title gained 1.06% to 87.13 euros.
Bic without erasure
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