The star CAC 40 index rose 33.85 points to 7,077.16 points.

The day before, he had already taken 0.28%.

The Parisian rating moved slightly below equilibrium for most of the session before accelerating sharply at 4 p.m., after Bloomberg said, citing unnamed sources, that the European Central Bank could raise its rates less directors than was feared at one of its next two monetary policy meetings.

The CAC 40 then briefly exceeded 7,100 points, before making some gains.

“The market started strong in 2023, without pausing, unlike the previous upward phases” of recent months, underlines Guillaume Chaloin, manager of Meeschaert AM.

According to him, this is due to a repositioning of institutional players since the beginning of the year towards the equity market, after a year during which they had turned to the bond market, attracted by the rise in yields.

The renewed confidence in the robustness of European economies is also favoring industrial stocks, while technology stocks are also returning somewhat to the good graces of investors after their plunge in 2022.

In Germany, investor sentiment improved again in December, reflecting the markets' hope that inflation will soon come down in the euro zone's largest economy, according to the ZEW barometer.

And while China experienced its worst annual growth in nearly 40 years, according to official data, year-end economic indicators were better than analysts expected.

However, in January in the United States, manufacturing activity in the New York region fell more sharply than expected, an additional sign of the economic slowdown underway in the country, or even of a risk of recession in the coming months.

LVMH is worth more than 400 billion euros

The world number 1 in luxury LVMH exceeded for the first time the threshold of 400 billion euros in market capitalization, an unprecedented level for a European company.

The action ended up 0.59% at 797.40 euros, with a peak in session at 803.20 euros.

At the close, its valuation was 401 billion euros.

The other luxury stocks had different fates, down sharply for Kering (-0.98% to 555.10 euros) and up sharply for Hermès (+1.78% to 1,658 euros).

Renault agrees with Nissan

Nissan (+2.69% in Tokyo) and Renault (+1.89% to 38.02 euros) agreed overnight from Monday to Tuesday to restructure their alliance after months of negotiations, the formal announcements now scheduled for late January-early February.

The manufacturer is the company that has grown the most on the Paris Stock Exchange in 2023, with +21.57%.

Degraded engine

Engie signed the largest drop in the CAC 40 (-5.47% to 12.47 euros), penalized by a note from Bank of America warning that "the worst is yet to come" for the company and judging it unlikely that it raises its earnings forecasts for 2023.

In its wake, Veolia lost 1.42% to 27.08 euros.

© 2023 AFP