The Paris Bourse has recorded its fourth consecutive session up (+ 0.34%) on Wednesday, advancing to the 5,900 point mark that it has not crossed since July 2007, driven by a certain optimism about an outcome in the Sino-US trade conflict.
The CAC 40 index gained 19.85 points to 5,866.74 points, in an average trade volume of 3.5 billion euros.
This is a high close since July 24, 2007.
Over the last ten sessions, the Paris Bourse has thus finished nine times higher. The day before, the CAC 40 had taken 0.39%.
After opening to balance, the rating was anchored in the green during the day.
"The question of ACC is whether we are going to go over 6,000 points or not, as long as there is no negative American or Chinese noise, as long as they both seem ready to make concessions. , the market has no reason not to go there ", estimates with the AFP, Alexandre Baradez, analyst with IG France.
"We have the feeling for a few weeks of a situation that has relaxed," he adds.
While no major breakthrough has been recently made on the Sino-US issue, the markets seem optimistic about a possible resolution of the trade dispute between the world's two largest economies.
A first partial agreement could be made during the month of November.
- US indicators to watch -
As for indicators, orders placed in German industry rebounded sharply in September, to + 1.3% after a 0.4% drop in August, a small breath of fresh air for a struggling economy.
In France, activity growth in the services sector accelerated in October.
"The market is riding on these indicators today, there is the feeling that statistics have stopped deteriorating in recent weeks, the European side.In any case the market seizes as a positive argument to say that the most hard is behind us, "says Alexandre Baradez.
"But be careful not to go too far, it could be only a landing and not yet the trough," warns the analyst.
In the United States, productivity growth was stronger than expected in the third quarter (+ 1.4%).
"The US figures will be monitored in the coming weeks and especially consumption, because it is above all consumption more than business investment that pulls the US economy.of these figures will depend on the good performance of the European side ", predicts Mr. Baradez.
© 2019 AFP