2024-02-26 10:05:07
The Paris stock market lost nearly 0.5% in the morning, around 7,930 points, marking a pause following a week punctuated by records, penalized by Carrefour (-2.3%) and Alstom (-1.9%).
By gaining a little more than 2.5% last week, the CAC reached new absolute highs, including a record peak at 7976.4 points.
Since the start of the year, the Parisian market has already shown growth of 5.6%, a movement so strong that some investors might well be tempted to start taking some profits.
On Wall Street, the major American indices also set new records, which can be largely explained by the good performance of technological heavyweights, Nvidia in first place.
‘It is not because the markets are moving at historic highs that we should necessarily expect investors to start to tire,’ says Craig Fehr, strategist at Edward Jones.
‘It still appears reasonable to think that the markets will catch their breath in the short term, given the speed and scale of the recent bullish rally,’ he warns.
A certain amount of caution may be required in particular as the publication of US inflation figures approaches, which might influence the Federal Reserve’s next monetary policy decisions.
On Thursday, the monthly figures for the PCE consumer price index in the United States will be published, one of the statistics most watched by the Fed and expected to increase by 0.4% in monthly variation in January.
‘Ideally, there would need to be a core PCE index of around 0.2% per month for several months for the Fed to feel sufficiently comfortable with inflation dynamics to lower key rates,’ says Christopher Dembik , investment strategy advisor at Pictet AM.
US GDP for the fourth quarter will also be monitored on Wednesday following a first estimate which had it up 3.3% on an annual basis, a figure which had surpassed most market forecasts.
In French company news, Saint-Gobain announces that it has entered into a definitive agreement to acquire CSR Limited at a price of nine Australian dollars per share, representing an enterprise value of 4.5 billion Australian dollars (i.e. approximately 2.7 billion euros).
Arkema indicates that it has signed long-term contracts for the supply of renewable energy for its Calvert City (Kentucky), Beaumont (Texas), Chatham (Virginia) and West Chester (Pennsylvania) sites, as well as for all Bostik sites. in the USA.
Stellantis announced on Monday the signing of a framework agreement with the car rental group Ayvens, which plans to buy up to 500,000 vehicles from it in Europe by 2026.
The Canal+ group, a subsidiary of Vivendi, announces that it has increased its stake in Viu, a leading streaming service present in Asia, the Middle East and South Africa, to 30%, in accordance with the terms of the transaction announced on June 21, 2023. .
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