(News Bulletin 247) – The Paris Stock Exchange rose again this Tuesday, supported by numerous company publications and good figures on private activity in the euro zone. The CAC 40 returns to 8,100 points.

The Paris Stock Exchange remained well oriented this Tuesday. The CAC 40 rose 0.81% by extending its rise from Monday, which allowed it to return to the 8,100 point mark, at 8,105.78 points this Tuesday evening.

The Parisian index thus returns to its level which it was two weeks previously. Company publications focus the attention of investors on both sides of the Atlantic, and act as catalysts for the rise of the Parisian market.

In Europe, a heavyweight on the European market had a successful meeting with the market, namely the German professional software giant SAP (+5.3%), author of a “solid start to the year” according to Stifel. Cloud computing activities saw growth reach 25% in the first quarter.

On Wall Street, company publications also support the recent surge in American indices, with the S&P 500 and Nasdaq gaining more than 1%. On Monday, the two flagship New York indices finished in the green, thus stopping a series of six negative sessions in a row.

At the close of the European markets, General Motors rebounded by more than 5% after having revised upwards its forecasts for the current year, or in tech, Spotify which gained more than 14% after returning to profit in the first trimester.

Note that Tesla will publish its first quarter results this evening. Kering revealed its revenues for the first quarter (-11% year-on-year in published data) after the close. The luxury group Kering also announced that it expected a decline in its current operating profit of “40 to 45%” in the first half, due to the persistent difficulties of its Italian label Gucci. For the luxury group, the reception could be frosty on the stock market on Wednesday.

The latest economic statistics published this Tuesday morning also supported the trend, in particular the PMI indices which measure private sector activity. In the euro zone for the month of April, the composite index, which brings together industry and services, recovered to 51.4 against 50.3 the previous month and a consensus of 50.7, according to Reuters. The threshold of 50 distinguishes a contraction from an expansion of activity.

“The larger-than-expected increase in the composite PMI in April suggests that the eurozone is emerging from recession, but this will not prevent the European Central Bank (ECB) from cutting interest rates in June,” underlines Capital Economics.

OVH falls, SAP shines

In Paris, Renault finished its race in the green (+0.40%) after spending most of the session in negative territory. The group certainly published revenues slightly above expectations in the first quarter, both for the group as a whole and for the automotive division. But the strong progression of the stock in recent weeks was a pretext for profit-taking during the session, while the publication was “only” slightly better than expected.

The cloud specialist OVH, on the other hand, experienced its worst close since its IPO in October 2021. The stock plunged 17.60% while the company lowered its like-for-like growth forecast for the entire its financial year ending next August, expecting an increase of between 8% and 9% compared to 11% to 13% previously.

Analyst notes also boosted the stocks, with Interparfums gaining 3.4% while Berenberg initiated its purchase coverage on the stock.

On other markets, the euro increased by 0.4% to 1.0692 dollars. Oil is on the rise again. The June contract advanced 1% to $87.88 per barrel, while WTI listed in New York rose 1.2% to $82.84 per barrel.