(News Bulletin 247) – The Parisian index reached 7,900 points, and posted a weekly gain of 2.8%, this Friday, January 24, supported by the good performance of luxury and the comments considered more constructive by Donald Trump on the issue of customs surcharges.

Even higher. Optimism did not weaken this Friday, January 24 on the Paris Stock Exchange, and in particular for the CAC 40 which ended up 0.44% at 7,927.62 points. The Parisian index was even close to 8,000 points around 10:00 a.m. as well as its level prior to the dissolution of the National Assembly in France (8,001.80 points).

Investors are not shying away from their pleasure, since with today’s increase, the Parisian index records its ninth consecutive session in the green. This has not happened since January 2015. On a weekly basis, the CAC 40 posted gains of 2.82%, and 7% over its nine cumulative sessions of increase.

The progression of the Parisian market lost a little intensity during the afternoon, following the publication of several American indicators. The final figures from the University of Michigan survey measuring consumer confidence notably fell by 2.1 points compared to the preliminary results.

But overall the CAC 40 performed well this Friday. The Parisian market once again benefited from the support of luxury groups, themselves supported by the publication of Burberry, which gained 9.9% on the London Stock Exchange. The British leather goods manufacturer delivered business above expectations in the quarter ended at the end of December, confirming that, for luxury, the worst now seems in the rearview mirror. In this favorable context, Kering gained 4.5% while LVMH and Hermès gained 1.9% and 0.9% respectively.

Trump less virulent towards China

Another factor explains both the rise in luxury and the more general revival of appetite for risk: the latest statements by Donald Trump. The tenant of the White House seemed to soften his remarks on the thorny subject of customs duties against China.

The American president declared that he preferred “not to have” to introduce customs surcharges on Chinese imports.

The Republican president had previously indicated that he was considering introducing customs surcharges of 10% after having mentioned a rate of 60% during his presidential campaign.

“Clearly these are sweeping remarks, but the market was left with the impression that there was a scenario in which China escaped the worst consequences of the tariff regime. I think it “There’s still plenty of time for a more aggressive approach,” said Jim Reid of Deutsche Bank.

But these declarations were enough to propel sectors sensitive to the theme of customs duties.

This is the case for spirits. Pernod Ricard finished at the top of the CAC 40 (+4.5%)% and Rémy Cointreau jumped 6%. Automotive equipment manufacturers also benefit from Donald Trump’s statements, Forvia gained 7.5% and Valeo 4.3%.

On the downside, Pierre & Vacances fell 6.9%. The holiday village specialist was not able to give precise prospects for the rest of its 2024-2025 financial year, due to the rise in last-minute reservations in its activity.

On other markets, the euro gained 1% against the dollar to 1.0516 dollars. Oil is sluggish. The March contract on North Sea Brent is stable at $78.26 per barrel while that of the same maturity on WTI listed in New York returns 0.4% to $74.36 per barrel.