(News Bulletin 247) – At 7,390.28 points on Tuesday evening, the CAC 40 set a new closing record. During the session, the Parisian index had also exceeded its previous peak of March 6.

After the egg hunt, the Paris Stock Exchange went on the hunt for records on Tuesday. Coming back from a four-day long weekend for Easter celebrations, its flagship index found enough energy to post new all-time highs on Tuesday.

Around 3:45 p.m., the CAC 40 reached a historic high in session at 7,403.67 points on Tuesday, exceeding the 7,401.15 points established on March 6.

This day of records itself ended with….another record, this time closing at 7,390.28 points thanks to a gain of 0.89% on Tuesday evening. This new feat for the Parisian index brings down its previous historic high of 7,376.37 points, recorded at the close of the session on Wednesday January 5, 2022. Since the start of the year, the flagship Parisian index has posted higher gains at 14%.

An American job deciphered

Since the opening of the stock markets on Tuesday, the markets have been well oriented, thanks in particular to employment figures in the United States, published on Friday during the Easter break in the markets, which came out relatively well.

In March, the United States created 236,000 jobs against 311,000 in February, the lowest level since December 2020, while the unemployment rate fell to 3.5% against 3.6% in February.

“This could imply that the Fed [Réserve fédérale américaine, NDLR] will raise its interest rates one last time in May and will take a break afterwards,” said John Plassard of Mirabaud.

“Following the release of a strong new jobs report, investors reacted by raising the likelihood of another Fed interest rate hike at the next meeting. That meeting will only take place in three weeks and, since the jobs report, the odds of another 25 basis point hike [0,25%, NDLR] went from an almost equal level of 53% to a higher level of 71% this morning,” notes Deutsche Bank.

The next major statistic, inflation in the United States, will be released on Wednesday afternoon. In the meantime, investors are taking note of the decline in the same indicator in China, where inflation fell from 1% over one year in February to 0.7% in March.

Cyclists in shape

In terms of values, securities sensitive to the economic situation are well oriented, ArcelorMittal rebounded by 4.8%, Stellantis gained 3.3%, Saint-Gobain 2.8%, Schneider Electric 2.7% or Legrand 2 .3%.

Airbus moved against the trend, to close down slightly by 0.1% after having recorded a drop in deliveries of more than 10% in the first quarter.

Just like defensive stocks: Sanofi lost almost 1% or Danone which returned 0.6% on Tuesday evening.

Soitec regained 5.2% while the group nevertheless issued a profit warning on Friday, revising its medium-term revenue target downwards and warning that its turnover should fall by 15% in the first half. Bank Stifel adjusted its target on the group to 180 euros from 190 euros previously but maintained its buy view, due to the firm’s robust long-term growth prospects. On the smallest capitalizations, the medtech Implanet soared by 52.3% benefiting from an approval from the American health authority for its range of cervical cages.

On other markets, the euro took 0.4% to 1.0911 dollars. Oil is accelerating its gains, still driven by the announcement of production cuts by some OPEC+ member countries. The contract on Brent from the North Sea for delivery in June is up 1.5% at 85.44 dollars a barrel while that on WTI listed in New York for May is up 2% at 81.34 dollars a barrel.