The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Eric PIERMONT)
The Paris Stock Exchange closed Monday for the fourth consecutive time, well settled above 7,000 points after a quiet session in the absence of American investors.
The CAC 40 star index gained 19.81 points to 7,043.31 points, the most since February 10. It had increased by 2.37% last week.
Stable at the start of the session, the Paris rating gradually gained ground, settling at around 7,050 points since the beginning of the afternoon.
It remained unresponsive due to the absence of American investors, Wall Street was closed for both the stock and bond markets due to a public holiday.
The index thus maintained its strong upward trend since the beginning of the year. This trend “is rather short-term,” notes Mickael Jacoby, Head of Continental Europe Brokerage for Oddo BHF.
Trading volumes have been quite low over the past two weeks, he explains.
“There is probably a disconnect between those who have decided to invest”, and those who do so on the upside, satisfied with China’s restart and driven by the hope that the pressure of restrictive monetary policies will ease, and “investors who have not yet decided what will they do”.
The corporate results period, which began on Friday in the US, or the upcoming central bank meetings in early February may give them more guidance.
On the bond market, the cost of the French 10-year loan, whose maturity it refers to, remained stable at 2.63%.
Cutting of the connection between Vivendi and Telecom Italia
The chairman of the board of directors of Vivendi, Arnaud de Puyfontaine, resigned on Monday from his position as a member of the board of directors of the Italian group, however confirming “Vivendi’s strong interest in remaining a long-term investor”. Vivendi is the group’s main shareholder with a 23.75% stake. Vivendi shares rise by 0.86% to 9.65 euros.
Priority to Carrefour over the CAC
The Carrefour brand posted the largest increase in the CAC 40, 4.59% to 17.33 euros, following a positive recommendation from UBS Bank, which expects “healthy” sales figures.