(News Bulletin 247) – For the second consecutive session, the Paris Bourse ends up. The CAC 40 rose by 0.4% on Tuesday evening, supported at the end of the session by good American indicators.

The beginning of the week is clearly placed under the sign of cautious optimism on the Paris Stock Exchange. The CAC 40 closed up 0.43%, back on 7200 points at 7215.58 points. The day before, the Paris star index had gained 0.3%, thus ending a series of five sessions in the red.

The Paris market, hesitant for a good part of the day, took advantage of the upward trend on Wall Street to resume its march forward. The Dow Jones rose 0.3% while the Nasdaq gained 0.5% at the close of European markets.

Shortly before the opening of Wall Street, investors were reassured about the health of the US economy as fears of recession remain strong. They learned of a 1.7% increase over one month in May in durable goods orders. Against all expectations, sales of new homes rebounded by 12.2% in the United States again for the month of May, against a drop of 1.2% anticipated by the market consensus and after a rise of 3.5% in April.

On the side of American households, there too the morale is very good. The Conference Board’s consumer confidence index for June came in at 109.7 points versus 103.8 points expected and 102.5 points in May.

The other side of the coin, these indicators plead for further rate increases in the short term.

On the other side of the Atlantic, the European Central Bank has been clearer in its intentions to stem inflation. And they won’t go through a pause in rate hikes. Quite the contrary. The President of the European Central Bank (ECB), Christine Lagarde, indeed confirmed on Tuesday that her institution still had rate hikes in sight. “It is unlikely that in the near future the central bank will be able to say with confidence that the peak in rates has been reached,” she said at the ECB’s annual forum in Sintra, in Portugal.

Which is hardly likely to reassure the market. “Persistent inflation worries investors, who fear that restoring price stability will have a much heavier economic price to pay, which seems to have shaken confidence somewhat,” said Craig Erlam of Oanda.

“Not only are more rate hikes planned, but the prospect of a rate cut this year is more fantasy than reality,” he adds.

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Kering is shopping, Trigano is stalling

As for values, Kering (+0.7%) announced Monday evening the acquisition of Creed intended to strengthen its beauty division launched last year. This company, whose purchase amount has not been communicated, produces perfumes and is located in the very buoyant niche of hyper luxury, a segment whose annual growth is estimated at more than 15%.

Trigano suffered, falling 5.2% after the publication of its activity in the third quarter, which was penalized by difficulties in vehicle deliveries to dealers as well as a poor performance in the leisure equipment division.

On other markets, the euro appreciated by 0.5% to 1.0960 dollars. Oil contracts are falling. That of August on Brent from the North Sea dropped 1.4% to 73.31 dollars a barrel, while that of the same maturity on WTI listed in New York fell 1.5% to 68.36 dollars per barrel. barrel.