(News Bulletin 247) – The CAC 40 is rising this Wednesday at mid-session, while the S&P 500 once again broke a record the day before. Several stocks benefit from good publications from European comparables while Alstom falls.

The Paris Stock Exchange regains momentum this Tuesday. The CAC 40 rose by 0.9% at mid-session, to 7,451.67 points at mid-session.

The market is supported by the good performance of Wall Street, the S&P 500 having finished at a new historic high Tuesday evening at 4,864.60 points.

“Most of this increase was due to the rise in multiples (stock markets, Editor’s note), even though long-term interest rates have risen. These indices are in overbought territory and seem to be feeding on too many “optimism, even if the American economy is more robust than anticipated”, however warns Sebastian Paris Horvitz, of LBPAM. The latter judges that the American stock market is “on fire”.

On the macroeconomic side, the German Ifo institute lowered its growth forecast for Germany in 2024, from 0.9% to 0.7%.

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Air France-KLM driven by Easyjet, Alstom falls

Several stocks on the Paris Stock Exchange benefit from positive cross-readings following the publication of European comparables.

The German software package specialist SAP gained 6.2% on the Frankfurt Stock Exchange after announcing revenues higher than expectations for its fourth quarter as well as a restructuring plan of 2 billion euros which will affect 8,000 positions, this in order to adapt to the growth of artificial intelligence. In its wake, Dassault Systèmes gained 0.7% in Paris.

Air France-KLM advances by 4.3% and benefits from the good results of Easyjet.

Luxury is also recovering, with Kering taking 2.4% and LVMH 2.3%.

Going against the good trend, Alstom lost 5.6%, the market being cautious about the lack of announcement regarding the progress of its debt reduction plan, while the railway equipment manufacturer delivered its order intake and its turnover. business for the third quarter of its 2023-2024 fiscal year.

On other markets, the euro gained 0.4% against the dollar to 1.0897 dollars. Oil is listless. The contract for March on Brent from the North Sea lost 0.2% to 79.38 dollars per barrel, while that of the same maturity on WTI listed in New York lost 0.1% to 74.28 dollars per barrel.