(News Bulletin 247) – The Parisian index is moving up slightly in mid-session while investors have their noses plunged into the many corporate publications.

Business publications come to the rescue of the CAC 40. After four consecutive sessions of decline, the Parisian index is regaining some momentum, gaining 0.23% at mid-session to 7,316.11 points.

Like several places, the Paris market has experienced a cold snap due to recent good economic statistics which leave the field free for central banks to carry out more significant monetary tightenings than previously anticipated by investors. .

Featured Axa

This trend was confirmed by the minutes of the last monetary policy meeting of the American Federal Reserve (Fed).

This document, published Wednesday at 8 p.m., “did not tell the markets much that had not already been inferred, given recent comments from Mester and Bullard [deux membres de la Fed, NDLR] last week,” notes Michael Hewson of CMC Markets. “What he did show, however, is that a few members […] favored a 50 basis point (0.5%) rate hike before embracing the more gradual option of a 25 basis point hike,” he added.

The numerous results and announcements of companies, however, carry the CAC 40. Axa signs the strongest rise in the index, with annual accounts exceeding expectations. The insurer also said it expects to exceed its strategic plan target of average annual growth in net earnings per share of between 3% and 7% between 2020 and 2023 and announced the launch of a share buybacks of up to 1.1 billion euros.

Nexity fall

Another value of the CAC 40 that stands out: Bouygues published better annual results than expected by the market and delivered its roadmap to square the margins of Equans, which it bought from Engie last October. .

Stellantis advances by 3.6%, still buoyed by its excellent annual results delivered on Wednesday. Unibail-Rodamco-Westfield, takes 3.7%, supported by an increase in recommendation of Goldman Sachs to “neutral”.

Outside the CAC 40, Nexity fell 9% while its profitability will be put to the test in 2023 because the rise in construction costs will be more difficult to pass on due to the decline in real estate purchasing power.

Fnac Darty takes 11.5% following an article by BFM Business reporting that Daniel Kretinsky, who owns 20% of the group, would like to acquire the 24% held by the German Ceconomy and potentially delist the group. Ceconomy is not a seller, but this information revives the speculative potential of the stock.

On the other markets, the euro dropped 0.2% against the dollar at 1.0589 dollars. The oil takes on a little color. The North Sea Brent contract advanced 0.8% to 81.08 dollars a barrel while the WTI contract listed in New York also took 0.8% to 74.58 dollars a barrel.