(News Bulletin 247) – The Paris Stock Exchange keeps its upward movement. The CAC 40 closed up 1.1%, driven by LVMH, the leading market capitalization in Paris, whose insolent growth was unanimously welcomed on Thursday.

The Paris Stock Exchange maintains its bullish course and looks in the direction of 7,500 points. Marked with records, the progression of the CAC 40 amounts to 1.13%, to 7,480.83 points at the close of Thursday’s session. The star index ends its race a few points from an all-time high, at 7,485.59 points.

The CAC 40 was able to count on its precious ally LVMH, whose latest publication delighted operators and brought in its wake other luxury groups including Hermès (+3.10%), Kering (+2.6%) and, in Zurich, Richemont (+2.9%).

The sparkling publication of LVMH was the subject of all the attention, as were the latest figures relating to employment and prices in the United States. Weekly jobless claims saw their first rise in three weeks, with claims rising from 11,000 to 239,000 in the past week. As for producer prices, the latter contracted by 0.5% over one month for March and posted their weakest growth over one year, and only advanced by 2.7% against 4, 9% in February.

“For the Federal Reserve (Fed) which is already poised to pause rate hikes soon, this report will weigh even more in the balance, especially after the CPI consumer price index” released on Wednesday, commented Chris Low, chief economist for FHN Financial, quoted by AFP.

A quality publication for LVMH

LVMH (+5.7%) literally outperformed expectations. The insolent growth of the group with 75 houses including Louis Vuitton took the market by surprise, with an increase in its revenues of 17% over the first three months of the year, where analysts were only expecting 10%.

As for values, other than luxury, Klépierre gained 1.8%, driven by a two-notch recommendation increase from Barclays, from “underweight” to “overweight”.

In the red for much of the session, Fnac Darty finally ended up (+0.6%), while S&P on Thursday lowered the outlook associated with its long-term credit rating on the specialized distributor.

Excluding the SBF 120, the composite materials specialist Altheora limits its growth to 1%, after having gained almost 10% in the wake of an initiation of hedging on the purchase by EuroLand Corporate.

On the other markets, the euro exceeded 1.10 dollars, taking 0.5% against the greenback, to 1.1053 dollars after the latest remarks by François Villeroy de Galhau on a continuation of rate hikes in Europe. Oil prices have turned downward. The North Sea Brent contract for June delivery fell 1% to $86.44 a barrel, while the New York-listed WTI contract for May was down 0.9% to $82.50 a barrel. barrel.