The Paris Stock Exchange passed the symbolic milestone of 7,000 points on Thursday, the first since February 2022, but failed to maintain this position until the close.
The CAC 40 star index rose 51.49 points, or 0.74%, to close at 6,975.68 points. It is the seventh rise in the nine sessions of 2023, after Wednesday’s 0.80% gain.
The Paris rating was just below 7,000 points since the start of the session, a ceiling it broke a few minutes after the publication of the December inflation indicator in the United States.
The upward curve in consumer prices in the United States continues to flatten: December data confirm a further slowdown, with, for the first time since May 2020, a slight drop in prices over a month.
CPI inflation, the benchmark measure, fell to 6.5% compared to December 2021, compared with a 7.1% increase between November 2021 and November 2022.
Inflation “is clearly heading in the right direction,” US President Joe Biden said.
The level is in line with analysts’ forecasts but “since publication, the level of the ‘stock market’ indexes has dropped somewhat”, observes Alexandre Neuvy, manager of Amplegest. “Maybe they expected even better”, after already climbing a lot this week, he believes.
Investors are now almost convinced that the US Federal Reserve will hike rates by just 0.25 percentage points at its next meeting, the smallest move since the first hike of this rate-hiking cycle in March 2022. .
In the bond market, this insurance has lowered yields. The French 10-year reference maturity fell to 2.61%, the lowest since mid-December.
Downgraded perspectives at Ubisoft
French video game publisher Ubisoft, “disappointed” by its recent performance despite the release of major games, revised its financial goals for the full 2022-2023 financial year with sales down “more than 10% compared to previous year due to the context of “deteriorating macroeconomic conditions.” The share fell by 14.03% to 20.52 euros.
TotalEnergies starts up the largest biogas plant
The energy giant (+1.12% to 59.45 euros) announced the commissioning near Pau (Pyrénées-Atlantique) of the largest biogas plant in France, fueled for the time being mainly with processing waste some corn.
Worldline completes an acquisition
The payment services group (+2.52% to €41.54) announced that it has finalized the acquisition of a 40% stake in Online Payment Platform, a Dutch online payment services provider offering a dedicated solution to more than one hundred marketplaces and platforms.
The company signs the second weekly rise within the CAC 40 after the first four sessions (+7.14%).
The drop in tariffs also made other technology companies rejoice, such as Teleperformance (+3.99% to 242.50 euros) and Capgemini (+3.30% to 168.95 euros).
Roller coaster in Orpea
After rising 14.30% on Wednesday, Orpea shares fell 17.55% to 7.30 euros on Thursday. The stock, which has lost more than 90% of its value in 2022, is particularly volatile. The company said Thursday it had observed “unusual movements” in its share price and recalled that “the implementation of capital raises” to fund its refoundation plan “would lead to massive dilution.”
Since January 1, the share has gained 15.55%.
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