(News Bulletin 247) – Without direction throughout the session, the CAC 40 ended its run up 0.08% to 7,574.67 points this Tuesday evening.

Today’s session was not exciting, in the absence of major news that could guide the trend. The CAC 40 nevertheless closed slightly up 0.08% at 7,574.67 points at the end of a day without much relief.

On Monday, the flagship Parisian index contracted slightly by 0.4%, taking a breather after its record close on Friday evening.

The main market meeting took place in Japan where the Bank of Japan kept its rates unchanged without giving clear indications on the continuation of its intentions, while the market begins to anticipate the end of its monetary policy hyper-accommodating.

Not much else to eat for the market, except inflation in the euro zone confirmed at 2.4% year-on-year in November, in a second estimate.

“Annual inflation fell to its lowest level since July 2021, at 2.4%, compared to 2.9% in the previous publication. With the exception of food and energy products, core inflation fell at 3.6%, compared to 4.2% previously, also on an annual basis, which represents the lowest levels since April last year,” notes Samer Hasn Market analyst at XS.com

Virbac in great shape

On the value side, Virbac ended the day up sharply by 12%, after once again raising its objectives for the 2023 financial year.

Sodexo fell 0.7% as the company announced the separate listing of its subsidiary Pluxee on February 1 on the Paris Stock Exchange.

Legrand lost 1.8% while UBS went from “buy” to “sell” on the stock. The Swiss bank perceives risks linked to the economic situation for the company and judges that the market overestimates its growth potential.

On other markets, the euro gained 0.5% against the dollar to 1.0980 dollars. Down at mid-session, oil turned higher as Yemen’s Houthi rebels showed their determination to continue their attacks on ships in the Red Sea. The February contract on Brent from the North Sea rebounded by 1.85% to 79.39 dollars per barrel while that of the same maturity on WTI listed in New York increased by 1.8% to 74.12 dollars per barrel.