(News Bulletin 247) – The CAC 40 is moving quite clearly in the green at mid-session this Monday, while the S&P 500 set a new record at Friday’s close. FDJ stands out thanks to an acquisition appreciated by the market.

The Paris Stock Exchange slips somewhat into the wheel of the American market this Monday. The CAC 40 advanced 0.46% to 7,405.22 points at mid-session.

The good Parisian trend is linked to the optimism of American investors who pushed the S&P 500 on Friday evening to a new historic high at 4,839.81 points, the index having therefore beaten its previous record of January 2022. The futures contract on the S&P 500 suggests further progress this Monday, since it is trading up 0.3% for the hour.

The market begins a week which will be marked by several major publications from companies such as Tesla and ASML on Wednesday, and, on the CAC 40, LVMH and STMicroelectronics on Thursday. Especially the first wave of central bank meetings arrives this week, with the Bank of Japan on Tuesday and the European Central Bank on Thursday.

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Winning hand for FDJ

These meetings come at a time when investors are somewhat lowering their optimism about future key rate cuts from major central banks.

“The markets have somewhat corrected the overly aggressive expectations of rate cuts thanks to the cautious speeches of most central bankers. But these expectations remain optimistic, especially for the Fed (American Federal Reserve, Editor’s note)”, explains Xavier Chapard of LBPAM.

“At the same time, risky assets remain supported, with global equities having surpassed their high point at the start of 2022 last week. Overall, financial conditions remain more accommodating than last year, which could displease central bankers who are not yet sure of having completely won the fight against inflation,” he continues.

On the value side, FDJ stands out, gaining 5.7% after announcing the acquisition of the Swedish Kindred, parent company of Unibet, for a company value of 2.6 billion euros. This operation significantly increases its size, its internationalization, and accelerates its digital transformation.

Worldline is up 3.2% while Crédit Agricole SA announced that it holds 7% of the capital of the payments group, reaffirming its confidence in its industrial partner.

Air Liquide fell 0.8% while Stifel went from “buy” to “hold” on the value.

On other markets, the euro lost 0.1% against the dollar at 1.0885 dollars. Oil moves little. The March contract on North Sea Brent advanced 0.2% to $78.71 per barrel while that of the same maturity on WTI listed in New York gained 0.35% to $73.67 per barrel.