The Paris Stock Exchange had a fourth session in the green on Tuesday (+0.49%), investors letting themselves be carried away by a series of good news, in particular on inflation in the United States.
The CAC 40 index rose 32.49 points to 6,641.66 points, bringing its rise to 3.28% in four sessions. It is thus evolving at its highest level since April, and even approached 6,700 points at the highest of the session.
“There is a flow of good news which justifies the rebound at all levels”, describes Alexandre Neuvy, manager at Amplegest.
Investors are still on cloud nine after Thursday’s publication of weaker inflation than expected in October in the United States. The trend was confirmed on Tuesday by US producer price figures, which also slowed more than expected.
Among the other buoyant winds, the manager mentions “the desire to talk to each other” between the leaders of the great powers during the G20, starting with the meeting on Monday between US President Joe Biden and Chinese leader Xi Jinping.
German economic data was also “reassuring”, especially investor sentiment which significantly accelerated its recovery according to the November ZEW indicator.
However, “this trend needs to be confirmed” before prolonging the rebound, warns Mr. Neuvy, who stresses that “the markets have taken off again very quickly”. During the year, several attempts at rebounds, particularly this summer, were shattered by inflation figures that were more firmly rooted in the economies.
A drop in the rate of inflation gives investors hope that the central banks will stop raising their key rates abruptly, or even that they are planning to lower them within a few months.
On the bond market, the rate for the 10-year French government loan fell to 2.59%. It was at 2.80% last Tuesday.
Teleperformance licks its wounds
The action of Teleperformance resumed in three sessions half of what it had dropped Thursday in the wake of accusations of violations of labor rights in Colombia, investors showing themselves partly reassured by the information provided by the French giant call centers. It closed Tuesday at 223 euros, up 10.01% over the session.
Searches at Orpea
The group of private nursing homes in turmoil since the revelations of the investigative book “Les Fossoyeurs”, published in January, unveiled on Tuesday a transformation plan aimed at changing its practices and cleaning up its finances, at a time when the group is beset by massive debt that threatens its future.
But this communication was disrupted by the news of the launch of searches “throughout France” in “several dozen establishments” of the group and planned “over several days”, according to a source familiar with the matter, as part of a preliminary investigation for “institutional mistreatment”.
Orpea fell 2.34% to 8.02 euros, after taking more than 4% at the start of the session. Since January 1, the share price has plunged more than 90%.
Euronext CAC40