AFP, published Wednesday 18 January 2023 at 18:40
The Paris Stock Exchange continued to grow on Wednesday, albeit at a slow pace of 0.09%, US economic indicators show a slowdown in inflation but also in economic activity.
The CAC 40 star index took 6.23 points to 7,083.39 points, after topping 7,100 points during the day. This is his sixth consecutive bullish session. It gained 0.48% on Tuesday.
Balanced in the first part of the session, the Paris rating returned to green after two economic indicators in the United States: producer prices in December slowed more than expected in a year, and retail sales also fell more than expected.
But the reversal of American markets after a higher opening interrupted the momentum of Parisian investors.
“The indicators show a deceleration of demand in the United States, in addition to disinflation,” underlines Sophie Chauvellier, manager of Dorval AM.
“We remain in this window in which activity decelerates sufficiently, without collapsing”, materializing the hope of a soft landing for the economy, he continues.
Investors are convinced that the US Federal Reserve will only moderately raise its key rates at its next meeting, by 0.25 percentage point.
Another favorable consequence, bond rates have continued to fall.
For France, the cost of the 10-year loan stood at 2.44% on Wednesday, against 3.09% on December 30, 2022.
Since January 1, the CAC 40 has gained nearly 9.5%, finishing eleven times in thirteen sessions. “It’s going very fast, and the market is on +buy+”, amid China’s economic reopening and the easing of energy tensions, Ms. Chauvellier recalls.
“But if the data on economic activity gets too bad, risk aversion could come back,” he explains.
The technology takes off
Capgemini took 2.95% to 176.35 euros.
STMicroelectronics advanced by 2.03% to 39.51 euros, with a positive trend in the semiconductor sector after the increase in sales forecasts by the Dutch ASMI.
The company takes over from Renault, which fell on Wednesday to first place in the progressions on the CAC 40 in 2023 (+19.75%).
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Air France-KLM announced on Wednesday that it will not bid for part of the capital in Italian airline ITA Airways, unlike its German competitor Lufthansa. The company’s share price rose by 1.29% to 1.58 euros (+28% in 2023), in line with the European sector.
Fnac Darty in Bulk
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