(News Bulletin 247) – The Paris Stock Exchange is heading for a fourth consecutive session of gains, the day after the publication of solid employment and consumption data in the United States. The CAC 40 continues its climb to 7,400 points.
The Paris Stock Exchange is well on its way to ending this week on a high note. The CAC 40 remains well oriented at 7,400 points, thanks to a rise of 0.3% to 7,445.65 points at mid-session on Friday.
The day before, the leading Parisian index had already risen by 1.2%, relieved by a series of reassuring data on American employment and consumption.
“We’ve returned to an environment where good news is good news and bad news is bad news. Investors and consumers want inflation to come down, but not at the expense of the economy. The stronger-than-expected retail sales figure released [jeudi] “This allays some of the recent fears that the US could enter a recession,” said Bret Kenwell, US markets analyst for eToro.
Over the week, the CAC 40 rose by 2.42% and is heading towards its best weekly performance since July. The Paris Stock Exchange is thus following in the footsteps of Tokyo, which had its best week since April 2020, with a rebound of 8.7%.
Today’s agenda will be much less full than the day before. At 4:30 p.m., investors will, however, take note of the preliminary data on household confidence, measured by the UMich index. This other indicator on the health of the American consumer, will close this week loaded with macroeconomic data in the United States.
In corporate news, Stellantis gained 1%, and appeared unaffected by a lawsuit filed Thursday by American shareholders.
Saint-Gobain rose 0.9% after announcing that it was strengthening its position in construction chemicals with the acquisition of the Mexican group Ovniver Group.
On the foreign exchange market, the euro gained 0.15% against the dollar to 1.0989 dollars. Oil turned lower, bowing under fears about global demand. The price of a barrel of Brent from the North Sea, for delivery in October, fell 1.3% to 79.99 dollars while that of WTI for delivery the same month, fell 1.6%, to 76.92 dollars.
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