The star CAC 40 index climbed 63.90 points to 7,348.12 points, ending the week up 2.24%, despite the rise in bond rates in recent days.
“Last week’s losses could have foreshadowed a breath of fresh air for the market again this week, given the upward movement that has been continuing since the fall,” observes Frédéric Ruf, an analyst at Milleis.
Especially since speculation on the evolution of monetary policies and key rates has been going well since the publication of higher than expected inflation figures in the United States and the euro zone.
Nevertheless, “investors prefer to see the glass half full,” he notes.
In question, in particular, the speech Thursday of the president of the Federal Reserve of Alanta Raphaël Bostic, who said he was in favor of an increase of 25 basis points, evoking a possible pause in rate hikes in the summer.
Moreover, there are signs of the health of the global economy, which the markets have decided to interpret positively, such as the rise in purchasing managers in China, a reflection of the industrial health of the world’s second largest economy. .
In France, on the other hand, industrial production fell by 1.9% in January compared to December 2022, due to a 6.7% decline in the manufacture of transport equipment, which includes aeronautics. and the automobile, INSEE reported on Friday.
The metal industry benefited from the fall in energy costs, in particular European gas (-3.88% to 45.00 euros per megawatt hour around 4:45 p.m. GMT), the production of industrial metals being very energy-intensive.
The phenomenon was also supported by the rising index of purchasing managers in China, reflecting the reassuring industrial health of the world’s second largest economy and pushing the market to risk.
In Paris, the rating of ArcelorMittal increased by 2.77% to 30.41 euros.
The French automobile followed in the footsteps of its European cousins, driven by Volkswagen’s results and the prospect of a reopening of the market in China.
Faurecia took 6.78% at SBF120, to 22.53 euros per share and Stellantis finished at the top of the day’s increases in the CAC 40, rising 2.88% to 17.66 euros. More modestly, Renault gained 1.65% to 43.13 euros.