(News Bulletin 247) – The CAC 40 gained a little ground at mid-session this Thursday, while the 10-year bond yield in the United States fell back below 4.6%. Corporate results are also rather well received.
The CAC 40 is trying to extend its comeback. The flagship index of the Paris Stock Exchange advanced by 0.45% to 8,017 points at mid-session this Thursday, after having already increased by 0.62% the day before. It remains to be seen, however, whether the CAC 40 will manage to preserve the threshold of 8,000 points by the close, which it had failed to do the day before.
After being penalized by the persistence of inflation and by resilient economic data in the United States, the CAC 40 is breathing a little better in recent sessions, with a lull in bond yields. The rate on the 10-year American bond stood at 4.58% compared to 4.593% on Wednesday evening and thus fell back below 4.6%.
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The market tastes Danone’s publication
“With rate cuts delayed, rather than canceled, we still believe the 10-year U.S. Treasury yield will end the year around 3.85%, up from 4.59% currently. Therefore, we continue to see capital gains potential,” said Mark Haefele, chief investment officer at UBS.
On the value side, the CAC 40 is driven by Schneider Electric which gains 3.1% and by Edenred (+3%), which published strong growth for its first quarter, while confirming its annual objectives.
Danone also pleased the market, growing by 1.6% after once again exceeding expectations for the first quarter.
On the fall side, Sartorius Stedim Biotech suffered, losing 14.8% after disappointing expectations both in terms of its order intake and its turnover.
FDJ (-4.7%) for its part communicated activity without any major surprises for the first quarter, and a little lower than the expectations of Stifel and Oddo BHF.
On other markets, the euro is stable against the dollar at 1.0674 dollars. Oil continues to decline. The June contract on North Sea Brent lost 1.1% to $86.36 per barrel while the May contract on WTI listed in New York also lost 1% to $81.76 per barrel.
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