Thanks to banks and energy, Cac 40 scores 6200 points, market news

Stop or again? It will be “again”. For the third session in a row Bedroom 40 crossed the symbolic bar of 6100 points, and then at 6200, and ended at 6201.22 points, up 1.79%, with a transaction volume of 2.97 billion euros. At its highest, the barometer rose to 6,213.88.

However, the session started badly. The flagship Paris Place Index hit a low of 6,028.79 this morning due to a Wall Street reversal late in the session on Monday evening. The one who sowed discord is called Apple. According to the financial news agency bloomberg, the Cupertino giant, father of the iPhone, plans to hire fewer employees and spend less in certain areas next year to head off a possible economic slowdown. This is not the only case. Other heavyweights like Meta, Google or Netflix will shut down recruiting for the same reasons. Investors struggled to digest the announcement before returning to more informed conclusions and hailing higher-than-expected results from US pharmaceutical giant Johnson & Johnson (J&J) on Tuesday.

Banks were looking

In Paris, banks also participated in the afternoon market rally with energy stocks. The news first came in the form of a summary from Reuters: The flow of Russian gas through the Nord Stream 1 gas pipeline will resume on time on Thursday after the completion of scheduled repairs.. but at a reduced level. What does it mean! European political leaders breathed a sigh of relief, as did financial investors, some of whom feared that Moscow would use the gas as a means of pressure in the face of war-related sanctions in Ukraine. On the exchange, Angie won 2.75%.

On their side BNP Paribas, Societe Generale as well as Agricultural loan rose between 2.37% and 3.97%. Two days before the meeting of the European Central Bank (ECB), its head Christine Lagarde is working to find an agreement on an anti-fragmentation mechanism designed to protect the most vulnerable countries in the eurozone. According to Bloomberg, this will be the subject of intense negotiations in the Board of Governors, where as a bargaining chip there will be a higher than announced key rate hike, that is, 50 basis points, not 25. These discussions are clearly visible. stock market at a time when Italy is on the verge of a new political crisis. Council President Mario Draghi will address parliament on Wednesday and say whether he will remain at the head of government.

State offers 12 euros per EDF share

Among other values, EDOwhose quotes resumed on Tuesday soared 14.72% to 11.73 euros, practically matching the price of 12 euros with the attached coupon offered by the French state to rise to 100% capital.

Also surrounded by ADP rose by 1.59%. The manager of Roissy-Charles de Gaulle, Orly and Le Bourget airports has raised its traffic forecasts for 2022, while in the first half of the year its traffic reached 118.2 million passengers, including 37.5 million passengers in Paris airport.

Conversely, a railway equipment supplier Alstom fell 2.62% after announcing an 8% increase in sales in the first quarter of fiscal year 2022-2023, but bookings were down 13%. The group reaffirmed its goals for the full year, while recalling that inflation and shortages of components will have an impact on its operations.

Finally, Neoen fell by 6.24%. Morgan Stanley has downgraded the renewable energy producer’s stock from ‘linear weight’ to ‘undervalued’ due to valuation issues. The broker also lowered the recommendation for Voltalia (-3.72%) from “overweight” to “line weight”.