(News Bulletin 247) – The Parisian index has exceeded its previous historical highs which dated from January 2022.

The CAC 40 exceeds its limits. The Parisian index exceeded its historic record in session on Thursday shortly after 11:33 a.m. The previous records for the Parisian index dated from January 2022, with an index at 7,384.86 points during the session and 7,376.37 points at the close.

Around 12 p.m., he caught his breath a little, evolving to 7,365.21 points (an increase of 0.9%), after a record at 7,387.29 points earlier in the morning.

Since the beginning of the year, the CAC 40 has soared by 13.8%. The markets were buoyed by the reopening of the Chinese economy, less bad economic conditions than expected in Europe and more moderate rate hike expectations from the major central banks.

Orange leader of the CAC 40 this Thursday

This Thursday, however, it is the results of companies that carry the trend.

Orange (+5.6%) signs the strongest progression of the index after having published objectives for 2025 considered reassuring by Barclays as well as its annual results. The telecom operator has notably announced that it plans to increase its dividend in 2023 and 2024.

Pernod Ricard grew by 5.1%. The spirits group published half-year results above expectations, thanks to its excellent pricing power.

Airbus delivered a half-fig half-grape publication with disappointing prospects. But on the contrary, its annual results have largely exceeded analysts’ expectations. The aircraft manufacturer has also entered into negotiations with Atos to take a 30% minority stake in its Evidian division. As a result, the Atos stock climbed 8%.

A “blindness”?

Another group to publish its annual results, Renault ticked all the right boxes, with an operating margin doubled and a generation of record cash. Nevertheless, investors had anticipated this good publication and the title marks a breather (-0.75%).

If the trend on the equity markets therefore remains buoyant, many operators are wondering if the equity markets are not showing complacency compared to other asset classes.

“We have apparently gone from the euphoria of the beginning of the year, following very encouraging economic data, to blindness when it suits us. It is really very strange, especially when other parts of the market are behave in a more orthodox manner,” points out Craig Erlam of Oanda.

On other markets, the euro gained 0.1% against the dollar at 1.076 dollars. Oil is changing little. The North Sea Brent contract for April delivery fell 0.3% to 78.35 dollars a barrel, while the New York-side WTI contract also fell 0.3% to 85.12 dollars a barrel.