The Paris Stock Exchange continues its momentum. After having closed this Friday at 6,860.95 pointsits highest level since February 18, 2022, the CCA 40 remains supported. Over the course of the week, it rose by 5.98%, a performance not seen since November 2020, when the announcement of the effectiveness of vaccines against Covid-19 had restored optimism to world markets. The New York Stock Exchange closed sharply higher on Friday, driven by a series of indicators showing a deceleration in economic activity and inflation, but also the stability of the labor market.
The Dow Jones finished up 2.13%, the Nasdaq index up 2.56% and the broader S&P 500 index up 2.28%, although US stocks were only slightly positive, far from the trend of the European stock exchanges. “If Friday’s stock price movements tell us anything, it’s that investors really want to believe the story of the peak inflation that has passed,” fueling the index’s rebound, wrote CMC Markets’ Michael Hewson. Supporting this hope they could count on the slowdown in the growth of the average hourly wage in the United States, as well as the contraction of activity in the services, signs that the US Federal Reserve’s tough remedies are paying off.
Stock market, rates… “2023 will be the year of all dangers”… and opportunities?
The drop in the price of raw materials, oil and gas, is also fueling optimism for the European continent. China’s “new measures to reopen the economy” despite rising Covid-19 contamination are also contributing to healthy prices, according to Mr. Hewson.
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The values to follow
Danone : NGOs want a judge to force the French multinational yogurt and water bottle company to kick its plastic addiction that often backfires in the wild, in a summons AFP consulted on Monday.
Ipsen : France’s third-largest pharmaceutical lab will buy US biotech Albireo, which specializes in liver disease, for $952 million (€891 million), it announced in a press release on Monday.
Exchange: CAC 40, Renault, Crédit Agricole, BNP Paribas, Sanofi… in the Momentum program this week