The Paris Stock Exchange ended Tuesday up slightly, the CAC 40 taking 0.35% pending central banks in a calm environment, disturbed by the Covid-19 in China.
The flagship index took 23.08 points to 6,657.53 points, following the European trend in the wake of Wall Street, which opened higher.
On Monday, the Parisian market took a nose dive in the face of a rebound in the Covid-19 epidemic in China and fears of a global recession.
The resurgence of Covid cases and lockdowns “have certainly dampened hopes for a rapid reopening next year, adding to concerns of a global recession in 2023,” Markets.com analyst Neil Wilson said.
In a context devoid of news impulses and macroeconomic indicators, market participants await the minutes of the exchanges (the Minutes) of the last monetary policy meeting of the Fed on Wednesday, before that of the European Central Bank (ECB) Thursday.
Investors will be looking for signs of a slowdown in key rate hikes.
But “there is one session left” before Thanksgiving and Black Friday in the United States and the amplitude of the variations in the indices remains limited, explains Florian Allain, manager at Mandarine Gestion, to AFP.
Oil-driven TotalEnergies
Investors also regained some confidence as oil prices rebounded following plunging Monday on rumors of an OPEC+ production hike.
The denial by Saudi Arabia “gave a little air to oil”, notes Mr. Allain.
Around 5:00 p.m. GMT, a barrel of Brent from the North Sea for delivery in January 2023 gained 2.65% to 89.77 dollars. The American WTI for same-term delivery, of which this is the first day of use as a reference contract, was worth 82.22 dollars, up 2.72%.
TotalEnergies therefore took 4.39% to 58.07 euros, like other groups in the European oil sector such as BP (+6.52% in London) or ENI (+4.52% in Milan).
Interparfums delights the market
The group forecasts for 2023 “a continuation of the dynamic” with a turnover between 710 and 720 million euros following having once more raised its objectives for 2022. The Interparfums share rose by 4.93% to 53, 20 euros.
Vallourec bounces back
The specialist in seamless pipes for the oil industry Vallourec, which came out of the red in the third quarter, rebounded on Tuesday from 9.58% to 10.93 euros, signing the largest increase in the SBF120. The day before, its title had fallen by more than 13% following the announcement of its results.
Euronext CAC40