CAC40: in green, Société Générale continues to rise

(CercleFinance.com) - The Paris Bourse ended the session with a gain of 0.
28%, at 8028 points, driven by Société Générale (+3.6% today and almost +35% since the start of the year) and STMicro (+2%).

While some investors are pretending to be holding back, awaiting further developments concerning trade and customs relations, the uptrend remains clearly bullish in Europe, with +0.6% for the Euro-Stoxx50 and the DAX.

Stakeholders seem to have adapted well to the heightened volatility inherent in Trump's return, and many were expecting him to take such measures," stress analysts at Danske Bank.

The main factor supporting equities, however, seems to be the lack of escalation in the issue, with the USA's major trading partners having refrained from implementing retaliatory measures.

This afternoon, investors could turn their attention to Jerome Powell's hearing before the Congressional Financial Services Committee. The Federal Reserve Chairman hinted that there would be no new monetary easing measures in the immediate future, confirming Oddo BHF's 'wait and see' analysis.

On Wall Street, the picture was ultimately mixed, with all three indices stagnating near their equilibrium points.

On the bond front, the yield on 10-year US Treasury bonds edged up +4pts to 4.536%.

The Bund for the same maturity posted +7pts to 2.4310%, and the OAT deteriorated by +7.5 basis points to 3.16500%, i.e. a little-changed spread of 73pts (versus 72.5 on Monday).

The euro recovered 0.4% against the greenback, to around $1.0349, while oil prices began a technical rebound, reversing the downward trend that had penalized them since January 15.

In London, Brent crude rose by 0.9% to $76.8 a barrel.

The ounce of gold (April contract) traded at $2904 (+1.5%).

In French company news this morning, Kering reported a 62% drop in net income (group share) to 1.13 billion euros for 2024, as well as a 46% drop in operating income before non-recurring items to 2.55 billion, bringing the margin down to 14.9% from 24.3% in 2023.

EssilorLuxottica announces the acquisition of Cellview Imaging Inc, a Canadian start-up based in Toronto, which 'designs and manufactures innovative, high-performance imaging diagnostic instruments based on solid in-house R&D expertise'.

Alstom has signed a 600 ME framework agreement with Deutsche Bahn, the German state-owned railway company, for the digitization of the rail network in Germany.

Finally, Thales announces the signature with Bharat Dynamics Ltd (BDL) of a contract for the initial supply of LBRM (Laser Beam Riding ManPad) man-portable air defense systems to reinforce India's air defense capabilities


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