(News Bulletin 247) – The CAC 40 ended Thursday’s session up 0.64% at 7,446.89 points, with grounds for hope on an agreement on raising the debt ceiling in the United States. Trigano shone.

Finally a session that saw the Paris Stock Exchange emerge (a little) from its torpor. After several very soft days, the CAC 40 closed on Thursday on an increase of 0.64% to 7,446.89 points.

The main barometer of the Parisian market caught up with the rise on Wall Street on Wednesday evening, when the American indices took more than 1%. The trend remains positive, moreover, this Thursday across the Atlantic, the S&P 500 still gaining 0.6% shortly before the European close.

Somewhat reassuring statements on the negotiations around raising the US debt ceiling fueled risk appetite.

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A slowing US economy?

US President Joe Biden held a press conference during which he said he was “confident” about the resolution of this file. The leader of the Republicans in the House of Representatives, Kevin McCarthy also declared himself “optimistic about the ability to work together”.

In addition, investors had to dissect some statistics in the United States, including new weekly jobless claims, which were lower than expected by economists, at 242,000 units.

“The US data released today will not change much in people’s opinion of the country’s economic situation at the present time”, considers, however, Craig Erlam of Oanda, who judges that this data still points to a ” weakness” of the economy.

Trigano star of the day

In terms of values, Trigano took the lead in the SBF 120, rising 13.32% on the back of better than expected half-year results.

Cyclical stocks made good progress with STMicroelectronics, which won 3.6%, Renault 2.9% and Saint-Gobain 2.4%.

Note that in London, the luxury group Burberry fell 5.4% after publishing its results for its entire 2022-2023 financial year, marked by a 7% drop in sales in North America on the fourth trimester.

On the other markets, the euro lost 0.6% against the dollar at 1.0772 dollars. Oil contracts are losing some ground. The North Sea Brent contract for July delivery fell 0.9% to $76.27 a barrel while the June contract on New York-listed WTI fell 0.9% to $72.21 a barrel .