(News Bulletin 247) – The Paris Stock Exchange is once again on the rise this Tuesday at mid-session. The CAC 40 rose 0.6%, attacking its all-time highs after a drop in producer prices in February in the euro zone.

The Paris Stock Exchange is getting closer and closer to its historical records. The CAC 40 rose another 0.6% to 7,390.42 points at mid-session on Tuesday, to its highs for the day, supported by a stronger than expected drop in producer prices in the euro zone over the month of FEBRUARY. Monday, he had increased by 0.32% and had then chained a sixth session in the green.

The Parisian place, well on its way to achieving the pass of seven, is only ten points away from its absolute record in session at 7,401.15 points recorded during the session on March 6th.

The markets are therefore opting for green despite the decision of several major oil-exporting countries to cut production. An announcement that should further fuel the risk of a surge in inflation, said John Plassard, investment specialist for Mirabaud. “If the upward trend in the price of a barrel of oil were to continue, there will obviously be impacts in terms of inflation, growth and international relations”, indicates the specialist, who evokes the tensions between the United States. United and Saudi Arabia.

The decision of the oil-producing countries also risks complicating the task of the major central banks, which are currently trying to curb persistent inflation by tightening their monetary policies.

Moreover, investors are aware of the trend in producer prices in the euro zone (PPI) for February and the latter fell more sharply than expected. They fell by 0.5% on a monthly basis, but remained up 13.2% over one year. Durable goods orders in the United States for the month of February will be the other meeting of the day.

L’Oréal gets a makeover

L’Oreal rose 1% after signing an agreement with Natura & Co to acquire Aesop, an Australian luxury cosmetics brand with an enterprise value of $2.525 billion.

Banking stocks continue to rise: BNP Paribas rose by 1.7%, Axa by 1.6%, Crédit Agricole by 1.2% while Société Générale gained 0.9%.

As for oil and oil services stocks, the latter are taking a slight breather while oil prices are moving up slightly. Brent crude from the North Sea for delivery in June advanced 0.6% to 85.41 dollars a barrel while that of May on the WTI quoted in New York rose 0.7% to 80.95 dollars a barrel. The day before, the two major references of black gold had jumped by almost 7%.

TotalEnergies is thus down slightly by 0.2% after gaining nearly 6% on Monday. Technip Energies gained 0.5% and CGG moved into balance.

Haffner Energy gains nearly 14% at midday, the green hydrogen specialist announced the signing of two major contracts with the start-up Carbonloop in the production of renewable hydrogen as well as its prospects.

On the foreign exchange market, the euro took 0.2% to 1.0932 dollars. The pound meanwhile rose to a ten-month high against the dollar on Tuesday, benefiting from a less gloomy outlook for the United Kingdom. The pound rose 0.48% to $1.2474 after hitting a 10-month high of $1.2481.