Good start for the Paris Stock Exchange in 2023

The Paris Stock Exchange finished the first session of 2023 on the right foot, rebounding on Monday after a disappointing performance in 2022, while many traders stayed away from the market, particularly in London and New York.

The peak index CAC 40 increased by 1.87%, or 120.81 points to 6,594.57 points. He finished the session down 1.52% on Friday, weighed down by early trends in US markets.

The decline during the week was small (-0.47%), but over the course of the year the CAC 40 recorded its largest decline since 2018, down 9.50%.

“There is a small recovery effect from December 30th»session during which Wall Street it opened sharply lower before recovering most of its losses after the closure of European markets and ending with a slight decline, comments Florian Allain, manager of Mandarine Gestion.

Most of the world’s financial centers remained closed on Monday, including Wall Street, London, Tokyo or Hong Kong.

The first good news of 2023 for the Parisian market, the leading indicator of economic activity PMI for the industry contracted less than expected in December, according to the measure of S&P Global.

Good news, but not enough to justify a jump of more than 6% of Renault shares, according to the Mandarine Gestion expert. Trading volume was also very weak on Monday, which tends to exacerbate the fluctuations.

“The first weeks of January are generally a period of growth, traders are taking a little risk»explains Florian Allain.

Several cars jumped after suffering from a lackluster economic outlook for 2022. Last year, the French car market fell by 7.8%, as the improvement in recent months failed to compensate for global delivery difficulties and the shortage of microchips.

Renault finished at the top of the CAC 40 at +6.79% at 33.40 euros, Stellantis +2.83% to 13.65 euros, Michelins +3.58% to 26.92 euros.

Leading the broader SBF120 index is the French IT giant Athos saw its share jump 20.01% to 10.82 euros, following information from the newspaper Les Echos evoking an interest inAirbus for its cybersecurity activities.

Le Revenu, with AFP