(News Bulletin 247) – The flagship index of the Parisian market ends the week in style with a new session of increase on Friday. And this, despite persistent inflation, which bodes well for restrictive monetary policies for several more months.

Nothing or almost does not affect the morale of the stock market at the moment. With a further increase of 0.88% this Friday to 7,348.12 points, the CAC 40 is approaching its historic records during the session (7,387.29 points on February 16) and at the close (7,376.37 points on January 5, 2022). ). Over the whole of the past week, the Parisian index gained nearly 2.2%.

A year after the start of the war in Ukraine, the markets have therefore returned to their pre-conflict peaks, while the fire is still raging on the front line.

A revival of activity in China, the United States and Europe

However, the world’s stock markets are now more focused on the monetary policies of central banks in the face of inflation and its consequences on activity. However from this point of view, several indicators have reassured, in particular this Friday.

In the morning, operators took note of an acceleration in the growth of activity in the euro zone last month. The PMI index published by S&P Global reached an eight-month high of 52 last month after 50.3 in January (50 marking the limit between a contraction and an expansion of activity). For services, the index stood at 52.7, its highest since June after 50.8 in January.

The prospect of a recovery in the Chinese economy also supports the trend. Services activity in China rose strongly in February. The PMI index published by Caixin rose to 55 points last month after 52.9 in January.

The American services ISM, also published on Friday, is higher than expected, at 55.1 against 54.5 expected by the consensus. A sign that the growth of services is holding up across the Atlantic.

At the same time, dovish comments from Raphael Bostic helped Wall Street. The Atlanta Fed chairman on Thursday said he favored a 25 basis point (0.25 percentage point) hike in rates at the next March meeting as well as a pause in rate hikes. rate in the summer.

A statement that warmed the hearts of investors. The higher inflation figures in Europe or the United States published this week put pressure on the European Central Bank and the Fed to continue their rate hikes for the next few months.

Bonduelle up sharply

On the securities front, corporate publications continue to feed the news of the Parisian marketplace. Bonduelle’s half-year results are welcomed by the markets (+5.71%), while its profitability has clearly appreciated over the period covering July to December.

Vallourec is still progressing by 1.76%, the day after an attractive publication. The seamless tube maker said on Thursday it posted positive cash flow in the fourth quarter and more than three times better than expected.

Arkema gained 3.03%, supported by Goldman Sachs which raised its recommendation to buy against neutral previously. Stellantis rose for its part by 2.88%, carried by Royal Bank of Canada which rose to “outperformance” against “sector performance” on the action of the car manufacturer.

On other markets, the euro climbed 0.06% to 1.0603 dollars around 5:35 p.m. Oil prices are also gaining ground. Around 5:35 p.m., the North Sea Brent contract for May delivery climbs 0.92% to $ 85.13 a barrel, while New York-listed WTI for April delivery takes 1.17% to 78 $.85 a barrel.