The flagship CAC 40 index rose 83.39 points to 7,480.83 points and set a new record for the third consecutive session during the day, at 7,485.59 points. The day before, the Parisian rating had ended almost stable (+0.09%).

The Paris Stock Exchange rose much more than other European financial centers thanks to its luxury heavyweights that allowed it to ignore the mixed elements on the health of the US economy.

On the good news side, after a slowdown in the rise of consumer prices in the United States in March published on Wednesday, investors took note Thursday of a decline in the wholesale price index over a month in March.

But on the other hand, the minutes (minutes) of the last meeting of the Federal Reserve (Fed) published on Wednesday had thrown a chill on the markets.

The Fed minutes recalled "the need to maintain the last hike in the series of monetary tightening" and emphasized "the lack of visibility on growth and the impact of the banking crisis," said Sophie Chauvellier, manager of Dorval AM.

This beginning of the economic slowdown was also reflected on Thursday in the increase in weekly claims for unemployment benefits published on Thursday.

Overall, "the employment figures point in the direction of a 25" basis point increase in Fed rates in May, as already anticipated by the market, adds Sophie Chauvellier.

LVMH, jewels of the CAC and top 10 worldwide

The growth in sales of the luxury giant LVMH, well above analysts' forecasts, has jumped the share of the first European capitalization by 5.65%, to 883.90 euros, its highest ever.

Since the beginning of the year, LVMH's share price has risen by 30%, the third best performance of the CAC 40. It entered the top 10 most valuable companies in the world, at more than $485 billion.

"This good start to the year confirms a stronger and faster rebound in Chinese demand and kicks off the luxury reporting season in the first quarter on a positive note," said Luca Solca, sector specialist for Bernstein.

Hermès also took 3.07% to 1,945.40 euros, also beating its records and rising nearly 35% since the beginning of the year. Kering gained 2.62% to 568.60 euros, cosmetics giant L'Oréal 2.90% to 424.10 euros and optical behemoth EssilorLuxottica 2.24% to 174.70 euros.

Renault-Verkor partnership for batteries

Verkor has reserved most of the electric batteries produced by its future giga-factory in Dunkirk (North) to its shareholder Renault, the two companies said Thursday. The first delivery of batteries from the Dunkirk plant is scheduled for 2025. Renault shares gained 2% to 37.78 euros.

Alstom under pressure

Alstom, whose share price is one of the most volatile in the CAC 40 index, fell throughout the session, to finish down 5.40% to 22.60 euros. An American investment fund, Aqr Capital Management, revealed that it had taken bearish positions on the stock.

© 2023 AFP