The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Eric PIERMONT)
On Tuesday, the Paris Stock Exchange closed slightly higher by 0.26%, during a session in which the indices fluctuated little, still awaiting the results of European companies.
The CAC 40 star index gained 18.46 points to 7,050.46 points. The day before, it had regained 7,000 points thanks to a 0.52% increase.
The Paris rating moved up a bit in the morning, down a bit in the afternoon, to return to green at the end of the session, Wall Street also recovers a bit after mixed corporate results.
The CAC 40 is now near its January 18 level, the year’s highest closing point, before a pocket of air the next day sent it well below the 7,000 mark.
“It is the end of a sequence of macroeconomics, we get to the heart of the matter” to determine “how companies have digested the cost increases” due to inflation, summarizes Lionel Melka, research director of ‘Homa Capital.
The United States has taught the first lessons and company accounts have, according to him, reflected “consumer fever”.
While the day’s transatlantic results had little impact in Europe, those of US tech giant Microsoft “can send an icy shockwave” in case of a nasty surprise, he warns.
In Europe, novelties will increase, with especially LVMH on the Thursday after the close or Alstom on the Wednesday before the open.
Economic activity in the euro zone returned to growth in January after six months of contraction, increasing the likelihood that a recession will be avoided this winter, according to the Flash PMI released by S&P Global on Tuesday.
“Fears of a recession are easing, but that also means the European Central Bank will hit hard,” with significant rate hikes key to fighting inflation, and which are much higher than expected for its US counterpart, he thinks Melka.
In France, on the other hand, private sector activity contracted in January for the third consecutive month, due to a decline in manufacturing output.
Xavier Niel running to detect M6’s TNT frequency
The TF1 share lost 0.14% to €7.26 and that of M6 lost 0.19% to €15.61.
Entrepreneur Xavier Niel, owner of the telecommunications group Iliad (Free) and shareholder of various newspapers, is a candidate to take over a DTT frequency as part of the renewal of those of TF1 and M6. This application, submitted through his company NJJ Project 5523, addresses the current frequency of M6.
Euronext CAC40