The CAC40 is not only up 5/5, but has also posted 6 consecutive sessions of gains.
At around 11:05 a.m., the CAC posted a score of 8,257Pts, which is the new all-time record (8,253 points): the all-time closing record of March 28 (8.206) has a 99% chance of being beaten this evening, since the index is gravitating towards 8,230 and Wall Street is up +0.4% (in fact, it's quite exceptional, with the 3 main US indices posting the same score to within 0.01%).

Absolute records have been raining down in Europe over the past 10 days: first it was the London Stock Exchange with the FT-100, then Amsterdam last Friday (the AEX set a fantastic series of 6 records in consecutive sessions), then Frankfurt (the DAX set a 3rd record, breaking the 18.800), and here we have the Paris index above 8,250, notably driven by Legrand (+3.1%) and Société Générale (+2%) despite completely derisory volumes, with less than 900 ME traded in over 7 hours.

The CAC40 gained almost +4% this week, with daily volumes of 2.3 billion euros: never before in its 36-year history has the CAC beaten a record with so little cumulative buying volume in one week... never.

There are no buyers (insignificant flows), but above all, there are no sellers: at this level of non-existence, it's also unheard of.

As a week virtually devoid of any major publication draws to a close, investors will be carefully studying the economic indicators for the next few days.

They will be looking for new clues as to the timing of the next rate cuts, both in the US and Europe, and to assess the chances of a continued rally in equities.

This afternoon, investors will be watching the US consumer confidence index compiled by the University of Michigan, which will provide an insight into the current mood of households across the Atlantic.

Yields on US Treasuries are up +4pts to 4.49% for 10-year securities and 4.847% for the '2-year', also up +4pts.
In Europe, Bunds (2.497%) and OATs (3.010%) are little changed, but heaviness prevails.
Markets betting on a 25 basis point easing in European Central Bank (ECB) rates next month seem a little less sure of themselves.

Brent crude is down 0.1% at $84/barrel, while gold is up 2.6% at $2,370/ounce: this is the most significant market movement on Friday.

In news from French companies, Sanofi announces the conclusion of a co-exclusive licensing agreement with Novavax, for the co-marketing of a Covid-19 vaccine and the development of combined influenza-Covid-19 vaccines, as well as the acquisition of a minority stake of less than 5% in Novavax.

Viel & Cie posted consolidated sales growth of 3% (+5.2% at constant exchange rates) to 299 million euros for the first quarter of 2024, compared with the same period last year.

Lastly, Renault will today present the first running prototype of its hydrogen-powered Alpine Alpenglow Hy4 on the Spa Francorchamps circuit (Belgium).


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