Paris Stock Exchange continues to rally, tops 7,100 – zimo news


Paris bourse cautiously extended its rally on Wednesday morning, rising 0.53%, encouraged by Wall Street’s three consecutive jumps, while still focusing on inflation and the avalanche of corporate earnings.

The CAC 40 rose 37.85 points to 7,137.34 at 9:30 a.m., after two sessions of gains ahead of the first estimates of euro zone consumer prices for January amid concerns about inflation.

After a turbulent January, European markets have rebounded since the start of the week, helped by comments from several members of the U.S. central bank that could reassure them about the pace of future rate hikes and cheap purchases. Wall Street has completed three straight rebound sessions.

Michael Hewson, an analyst at CMC Markets, said after hearing from several regional Fed presidents, “a common theme emerged that the market was moving too fast and any rate change should not destabilize the market.”

“Investors may doubt the sustainability of the rally ahead of the ECB meeting,” said Mirabaud investment expert John Plassard.

Experts say the ECB should keep monetary policy on hold and avoid paving the way for a key interest rate hike for now. His comments and inflation forecasts will be widely watched.

In addition, “market participants have many questions about rising inflation, U.S. monetary policy (not all FOMC members seem to be on the same wavelength), and of course geopolitical risks (Ukraine),” writes Sheng Sheng Christopher Dembik, Director of Strategy and Macroeconomics at Treasure Bank.

Despite setbacks, Orpea is on the rise

Orpea’s setbacks continued, while Brigitte Bourguignon, the minister in charge of autonomy for older people, on Wednesday expressed anger at the “pure cynicism” of the group’s leaders, who suspect they are allowing serious dysfunction to persist in their nursing homes. Don’t “question yourself”.

However, as in the previous day, the title (+2.99% to €41.30) continued to rise, likely as many investors took advantage of the stock’s roughly 30% drop in five sessions to buy cheap.

Stellantis’ Voluntary Leave Program

The carmaker (up 1.21 percent to 17.55 euros) on Tuesday presented a plan for 1,300 voluntary departures in France each year in 2022 and 2023, according to several union sources.

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