Unexpected growth figures gave him a final blow. The Paris Stock Exchange climbed 1.72% on Friday and 3.73% over the week, after a fortnight rich in business results, which are pushing the CAC40 at its highest level since early June.
After two successive closings in the green, the star index of the Parisian market gained 109.29 points, to 6,448.50 points. This 8.87% increase is the best monthly performance of the index since November 2020.
Luxury and energy in mind
“The markets are benefiting from better than expected results” in many companies, comments Eymane Cherfa, analyst at Myria AM. “Big exporters, such as luxury, energy and industrial companies, stood out today (Friday July 29)”, he noted, in particular TotalEnergies (+3.47%) or Hermès (+7.49%).
Investors also had “a good surprise on French GDP in the second quarter, which came out above expectations”, according to Eymane Cherfa. After a decline of 0.2% in the first quarter, France has returned to growth. April to June, recording a more dynamic rebound than expected in its GDP, which rose by 0.5% in the second quarter, according to data published Friday by INSEE.