The Paris Stock Exchange ended up 0.55% on Monday, setting a new closing high after a peaceful session on the eve of the publication of January inflation figures in the United States.
The flagship CAC 40 index rose 42.28 points to 7,689.80 points, erasing its last record from January 30.
On the other hand, during the session it did not beat its absolute record of 7702.95 points reached on January 31.
On Friday, the Paris Stock Exchange ended down (-0.24%), however showing an increase of 0.73% over the week.
“As long as we do not have the figures for American inflation, we will have to continue to navigate in something a little calmer, with markets which have a linear evolution”
, attests Andrea Tueni, market analyst at Saxo Bank.
Like the CAC 40, the flagship index of the Frankfurt Stock Exchange reached a closing high on Monday, and the American indices are also on a series of records.
Also readWhy invest in the stock market through ETFs?
Favorable context
Now, all eyes are on the release of the January Consumer Price Index (CPI) in the United States.
Inflation has slowed significantly in recent months, which should prompt the US central bank to lower its rates according to investors, who expect several cuts this year starting in May.
In a day without results from major companies in France, the upward closing of the Paris session can be explained above all by the favorable context of recent weeks, for Andrea Tueni.
“We are at the end of a season of very solid results in Europe, with a slowdown in inflation at the same time which fuels the hope of a rate cut by central banks soon,”
explains he.
During the week, however, company results will be closely scrutinized, notably those on Wednesday from Capgemini and EssilorLuxottica then Thursday from Renault, Stellantis, Schneider Electric and Pernod-Ricard.
Michelin announced a slight decrease in 2023 net profit after the markets closed.
On the bond market, the ten-year rate of the French State, the benchmark maturity, fell to 2.86% compared to 2.89% on Friday.
L'Oréal regains color
The action of cosmetics giant L'Oréal rebounded on Monday, with an increase of 2.35% to 428.65 euros.
On Friday, it fell by more than 7%, after results considered disappointing in the fourth quarter.
An increase, however, insufficient to regain the 2nd place of the largest companies in the Parisian market from Hermès, whose action rose to 2,185 euros (+0.51%).
Hermès had overtaken L'Oréal for the first time on Friday.