(News Bulletin 247) – The Paris Stock Exchange ended sharply higher this Thursday evening, at 7,100 points. The markets want to believe in the end of rate hikes. This optimism supports the CAC 40 which shows an increase of more than 1% at the close.

The Paris Stock Exchange confirms its rebound and its return to 7,100 points. The CAC 40 ended sharply up 1.13% at 7,113.66 points this Thursday evening.

Investors are betting that central banks will put an end to rate increases, a hope still maintained this Thursday after the positive remarks of the governor of the Bank of France, François Villeroy de Galhau. He estimated that the European Central Bank’s interest rates would no longer increase “barring any shock” and “barring any surprises”.

“We are winning the battle against inflation” and “barring any surprises, barring any shock, the increase in our key rates is over,” he declared in a speech, adding however that he was “too early” to talk about rate cuts.

Investors are also in a waiting position before the speech of Christine Lagarde, the president of the European Central Bank shortly after the close of the European markets before that of Jerome Powell, her counterpart from the American Federal Reserve, who will speak to her at the occasion of a debate at the International Monetary Fund. Especially since the head of the Fed left investors hungry by dodging the question of terminal rates yesterday, during the opening speech of the Centennial Conference of the Division of Research and Statistics, in Washington DC.

Airbus grounded

On the CAC 40, Schneider Electric stands out and ends up 8.3%. The low and medium voltage electrical equipment manufacturer, which organized an investor day in London, revealed medium-term objectives that were higher than market expectations.

Veoila increased by 2.6% after improved nine-month results and the confirmation of annual objectives.

On the other hand, Airbus lost 1.9% and ended the day at the bottom of the CAC 40. The aircraft manufacturer published a quarterly operating result below expectations but maintains its objective of delivering 720 commercial aircraft in 2023.

Excluding the flagship index, Orpea soared by 43.7%, the operator will be able to begin its restructuring while the courts have authorized its takeover by the CDC without going through a public purchase offer.

Solutions 30 rebounded by 14.3%. The quarterly activity of the Luxembourg company specializing in technical services for new technologies was once again driven by the excellent dynamics in the Benelux.

Vente-unique ended up 11% after a convincing annual performance and the increase in its margin outlook.

On the foreign exchange market, the euro is now stable at 1.0710 dollars. As for oil, it is regaining some color the day after a 2% drop and a return of Brent to below 80 dollars. A barrel of Brent from the North Sea, for delivery in January, appreciated by 1.3% from 80 dollars to 80.56 dollars. Its American equivalent, a barrel of West Texas Intermediate (WTI) for delivery in December also gained more than 1% to $76.17.