The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Eric PIERMONT)
The Paris Stock Exchange continued a third session of increases on Tuesday (+0.99%), still driven by investors’ better prospects for a relaxation of monetary policy after several weeks of doubts.
The flagship CAC 40 index gained 79.04 points to finish at 8,075.68 points. The day before, it had gained 0.49%.
In a diary still lacking in indicators and on the eve of two public holidays in France, even if the Paris Stock Exchange will be open, investors remain guided by the lessons of the latest report on American employment on Friday, according to Frédéric Ruf, expert in financial investments at Milleis.
“The employment figures were not great, below expectations”, which is seen by investors as a positive element because they believe that this will push the American Central Bank to lower its key rates in the coming months, he explains. For this indicator, “bad economic news” is “good news” for investors, he summarizes.
On the bond market, the 10-year interest rate on the French bond, the benchmark maturity, fell further to finish around 2.90%, its lowest closing level since April 15.
For more than a month, the CAC 40 has oscillated between 7,900 points and 8,200 points. “We have the feeling that the market does not want to fall” because with each decline “there is an influx of investors who want to take advantage of the movement to return to the market” after having missed the major upward phase between October and March, explains Mr. Ruf.
Investors also look at company results. French banks (Société Générale, +2.50% to 24.81 euros and Bnp Paribas +2.01% to 69.60 euros) were buoyed by the increase in financial forecasts from UBS in Switzerland and Unicredit in Italy.
Stmicroelectronics (+2.93% to 38.32 euros) benefited from the well-received results of the German Infineon.
The Bouygues group suffered a net loss of 146 million euros in the first quarter, which widened by 12 million in one year and is higher than the forecasts of analysts surveyed by Factset.
Bouygues, however, confirmed its outlook for 2024, with a significant order book in construction.
Its action fell by 1.56% to 34.80 euros.
Arkema surprised positively and gained 3.72% to 101.70 euros, which allows the action to almost return to balance (-1.26%) in 2024.
Transfer to Clariane
The group of private retirement homes Clariane (formerly Korian) announced Monday that it had received a “promise to purchase” from the Fondation Santé Service to sell it “all of its home hospitalization activities and services home nursing care” in France. Its action climbed 7.78% to 2.77 euros.
© 2024 AFP
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