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The CAC 40 close to its all-time high

2023-12-08T18:37:39.730Z

Highlights: The CAC 40 closed up 1.5% on Friday, at 7547 points. This is the sixth consecutive week of gains for the Paris Stock Exchange. LVMH shares rose 3.28% to 739.10 euros, while Kering shares gained 2.58% to 413.80 euros. The CAC is now only 0.4% away from its last record, set on April 24. An overhaul of the index is also set to change. Vivendi will make its comeback on December 18.


The Paris Stock Exchange's flagship index is also set to change.


The Paris Stock Exchange's flagship index is approaching its latest highs. The CAC 40 closed up 1.5% on Friday, at 7547 points. This is the sixth consecutive week of gains for the Paris Stock Exchange. The CAC is now only 0.4% away from its last record, set on April 24. Even the release of a U.S. jobs index that could hurt equity markets failed to dampen the index.

At the top of the CAC 40 gains on Friday were luxury companies. LVMH shares rose 3.28% to 739.10 euros, while Kering shares gained 2.58% to 413.80 euros. The CAC 40 is not the only index to experience a period of euphoria. On 5 December, the Dax, the Frankfurt Stock Exchange's flagship index, broke its all-time high, buoyed by the prospect of an end to the ECB's interest rate hike. In the eurozone, inflation is slowing faster than expected.

An overhaul of the index

The Paris Stock Exchange's flagship index is also set to change. Euronext's scientific committee decided on Thursday evening to overhaul the index. Vivendi will make its comeback on December 18. The group exited it six months ago, after the sale of its subsidiary Universal Music, which accounted for nearly half of its revenues. Vivendi is returning less than a month after definitively taking control of the Lagardère group. Thanks to this transaction, the turnover of Vincent Bolloré's group increased by 72% compared to 2022, to 16.5 billion.

This acquisition establishes Vivendi as a world leader in the publishing market, thanks to the acquisition of Hachette Livre. Even though Vivendi will not be listed on the CAC 40 until December 18, its share price benefited from its announced return to the index and rose by 2.42% to 8.89 euros. The media giant will replace payments specialist Worldline, which has suffered from a fall in its share price for the past two years, after being valued at up to €23 billion in 2020.

Source: lefigaro

All business articles on 2023-12-08

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