(News Bulletin 247) – The Paris Stock Exchange is progressing on the eve of inflation figures in the United States on Tuesday and at the dawn of a new week loaded with corporate results. The CAC 40 rose by 0.55%, which meant it reached a new absolute high at the close.

The Paris Stock Exchange sets a record close to start the week. The CAC 40 increased by 0.55% to end its race at a new absolute high, closing at 7,689.80 points this Monday evening.

The flagship Parisian index therefore drops its previous record of January 30, to 7,677.47 points, still closing.

Cautious optimism is driving the Parisian stock market at the dawn of numerous macroeconomic deadlines which will fuel the thinking of the American Federal Reserve (Fed) on its future monetary policy. On Tuesday, investors will take note of US inflation figures before retail sales in the same country on Thursday. On the other side of the Atlantic, new highs were also reached, at more than 16,000 points on the Nasdaq.

“For a month and a half, investors have gone into ‘good news is good news’ mode, buying good macroeconomic figures considering that it is excellent news if the American economy manages to perform in a high interest rate environment” , notes Alexandre Baradez of IG Markets. “We can consider that the stock markets have been a little complacent for several weeks,” he adds.

L’Oréal is regaining some momentum

The Parisian stock market will also be driven by numerous results from CAC 40 companies, including Michelin this Monday evening, with especially an avalanche on Thursday (Stellantis, Airbus, Renault, Schneider Electric, Pernod Ricard, Orange, etc.).

The CAC 40 was driven by the small rebound of L’Oréal (+2.4%), which benefited from cheap buybacks after being sanctioned on Friday (-7.6%), due to disappointing growth in fourth trimester.

The specialist in digital music distribution Believe sees its action suspended, with a final price of 12.40 euros on Friday evening. The company indicated on Monday that it had received a buyout offer at a price of 15 euros per share, an offer which came jointly from funds and the CEO, Denis Ladegaillerie.

Note that on the smaller capitalization side, IDSud resumed trading on Friday at the very end of the session and is therefore trading on Monday. The group has launched a public share buyback offer and is offering its holders, rather than cold hard cash, FDJ shares.

On other markets, the euro fell 0.1% to 1.0777 dollars. Oil is losing ground: the April contract on Brent from the North Sea drops 0.6% to 81.71 dollars per barrel, while that on WTI listed in New York loses 0.4% to 76.56 dollars per barrel.