(News Bulletin 247) – The CAC 40 ended Wednesday’s session on a moderate but significant rise. All eyes are on the US Federal Reserve, which will make its decision on key rates in a few hours.

The Paris Bourse continued its good momentum before the end of the meeting of the American Federal Reserve (Fed). The CAC 40 ended Wednesday’s session up 0.52% to 7328.53 points, thus returning above 7300 points. This rise follows the gains of 0.52% and 0.56%, recorded on Monday and Tuesday.

All eyes will turn in a few tens of minutes to the Fed, which will announce its decision on its rates at 8 p.m.

“Inflation data released on Tuesday appears to have calmed the Fed’s nerves, with markets now pricing in more than a 90% chance that the central bank will leave rates unchanged,” Oanda’s Craig Erlam said.

>> Access our exclusive graphic analyses, and enter into the confidence of the Trading Portfolio

Towards a “skip”?

The Fed could ultimately “skip”, ie take a break at the end of this meeting before considering raising its key rates again at the next meeting.

“The data as a whole still paints a fairly resilient picture [de l’inflation] and stubborn that could cause the markets to be surprised by a final bull run, especially after the recent decisions of the Bank of Canada and the Royal Bank of Australia, but the Fed can still do it in July and it seems more likely to this stage”, explains Craig Erlam.

Prior to this meeting, the markets have been moving for several sessions on a positive trend.

“Despite the almost confirmation of this pause, which is very widely expected, risk appetite has been strengthened again. The strength of the US market’s rise in recent weeks clearly puts it in an overbought situation”, underlines Sebastian Paris Horvitz of La Banque Postale Asset Management.

Casino has never carried its name so well on the stock market

In terms of values, Casino jumped 21% after the Niel-Pigasse-Zouari trio offered the group a recapitalization of up to 1.1 billion euros, the same amount as the man’s offer. Czech businessman Daniel Kretinsky.

Orpea gained 18.6% without any particular announcement seeming to justify this increase. “It has become a retail value”, that is to say taken from small holders, nevertheless recalls an analyst.

The renewed appetite for risk is benefiting cyclical stocks, notably Renault, which gained 3.9%, or ArcelorMittal, which gained 1.7%.

On the smallest values, the biotech Inventiva took 23.8% driven by the success of a clinical trial for its potential treatment against “fatty liver disease”.

On other markets, the euro gained 0.6% against the dollar at 1.0855 dollars. Oil prices are stagnating. The contract on Brent from the North Sea for delivery in August took 0.2% to 74.42 dollars a barrel while that on WTI listed in New York advanced 0.1% to 69.50 dollars a barrel.