AFP, published on Thursday, April 21, 2022 at 10:52 am
The Paris stock market rose 1.41% on Thursday, showing itself braver than its European neighbors after a televised debate between the two French presidential candidates, driven by industrial stocks.
The star CAC 40 index rose 93.42 points to 6,718.33 points at 10:35 a.m., the day after a strong 1.38% rise.
After a slight rise in the first exchanges, the Paris rating accelerated, while at the same time Frankfurt 1% and London were stable, while statements from central bankers are expected.
The bond market failed to respond to Wednesday night’s televised debate between the two presidential finalists, which Mirabaud investment specialist John Plassard said “was won on points by the current president.”
This debate does not appear to have upset investors who were already counting on Emmanuel Macron’s re-election.
The leaders of the three central banks of the United States, the eurozone and the United Kingdom will speak at a meeting of the International Monetary Fund on Thursday.
Expectations about the pace central banks will adopt to reduce their monetary support have driven markets for months and pushed bond yields up to levels not seen for years.
The European Central Bank (ECB) has yet to provide a timetable for its future rate hikes, the first of which is expected by the market by the end of the year, unlike the US Federal Reserve, which is determined to fight inflation.
The speech by Fed head Jerome Powell “will certainly be interesting as there is an important debate going on among members (of the Monetary Committee) about the pace of tightening US monetary policy,” Anticipates Christopher Dembik, Director research macroeconomics at Saxobank.
Investors will also want to look at the most recent inflation estimate in the eurozone in March.
Corporate earnings releases will also continue this Thursday with heavyweights such as Kering.
The business environment in France deteriorated further in April, although it still remains above the long-term average, INSEE reported on Thursday.
Industrialists in the lead
The top 3 of the highest increases in the CAC 40 was taken by Alstom (+4.74% to 22.31 euros), which won a contract worth 700 million euros, Saint-Gobain (+3.74% to 54 .94 euros) and Legrand (2.89% to 86.26 euros).
Crossroad back
Carrefour’s title lost 4.27% to €19.50 and took a break after rising more than 25% since the start of the year.
The Carrefour retail group achieved sales that exceeded analyst expectations in the first quarter of 2022, mainly thanks to Latin America. Some investors judged the performance in France as weak.
Euronext CAC40
