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 star CAC 40 index advanced 51.49 points, or 0.74%, to close at 6,975.68 points. It was the seventh increase in the nine sessions of 2023, following Wednesday’s 0.80% gain.
The Paris rating was just below 7,000 points at the opening of the session, a ceiling which it broke a few minutes after the publication of the December inflation indicator in the United States.
The flattening of the consumer price inflation curve in the United States continues: 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, said US President Joe Biden.
The level is in line with analysts’ forecasts, but the level of stock market indices has fallen slightly since publication, notes Alexandre Neuvy, manager of Amplegest. Perhaps they expected even better, having already climbed a lot this week, he believes.
Investors are now almost completely confident that the US Federal Reserve will hike rates by just 0.25 percentage point at its next meeting, the smallest move since the first hike in this cycle of rate hikes in March 2022.
In the bond market, this insurance has lowered yields. The French 10-year, the term to which it refers, fell to 2.61%, the lowest since mid-December.
Degraded perspectives at Ubisoft
French video game publisher Ubisoft, due to 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% year on year previous one. 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% 59.45 euros) announced the commissioning near Pau (Pyrnes-Atlantique) of the largest biogas plant in France, supplied for the moment mainly with transformation waste of the mass.
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 service provider offering a payment solution dedicated 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 rates also made other technology companies happy, such as Teleperformance (+3.99% 242.50 euros) and Capgemini (+3.30% 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 implementing capital raises to fund its refounding plan would lead to massive dilution.
Since January 1, the share has gained 15.55%.