The Paris Bourse ended Monday at its highest in twelve years, exceeding the threshold of 5,800 points (+ 1.08%), galvanized by the advances in trade, between Washington and Beijing and between the United States and Europe.
The CAC 40 index gained 62.41 points to 5,824.30 points, the highest since October 31, 2007, in a moderate trade volume of 3.7 billion euros. Friday, he ended up 0.56%.
The Parisian odds started in the green and then increased its gains, rising in session to 5,833.69 points, its highest level since November 1, 2007.
“The main elements” of this optimism are those “related to trade tensions that have evaporated in recent days,” noted AFP Alexandre Baradez, an analyst of IG France.
The chief economic adviser of Donald Trump, Larry Kudlow, thus reported Friday “a lot of progress” in the negotiations of a partial agreement called “phase 1” with China, more advanced than in the spring. Beijing for its part evoked “serious and constructive discussions” on Saturday.
In addition, “this weekend, the US Trade Secretary has been rather positive on trade relations between Europe and the United States”, which “away, it seems, for now , the risk of an application in November of an increase in taxes on automotive imports from Europe “, detailed the specialist.
Thus, “the market flies”, even if a “technical effect” is also at work, said Mr. Baradez.
The automotive sector has clearly benefited from the hope that new customs taxes will not be applied by the United States: PSA, which wants to form with Fiat-Chrysler the world No. 4 in the sector, has risen from 3.38% to 24.15 euros, Renault rising to a lesser extent (+ 0.81% to 47.11 euros).
The equipment manufacturers Faurecia (+ 5.91% to 46.60 euros), Valeo (+ 4.27% to 35.15 euros) and Plastic Omnium (+ 3.57% to 25.51 euros) were not in rest.
The other big winners of the session were commodity-related stocks – oil in the lead. CGG thus jumped from 6.50% to 2.26 euros, Vallourec from 4.84% to 2.42 euros, TechnipFMC took 4.31% to 18.87 euros while ArcelorMittal, Imerys and Eramet appreciated respectively 3.92% to 14.58 euros, 3.07% to 36.96 euros and 3.44% to 47.82 euros.
The global steel giant ArcelorMittal has also announced Monday that it canceled the acquisition of Italian Ilva, after the withdrawal of criminal protection for managers of the site of Taranto, being cleaned up.
LVMH, which finished up 2.12% to 397.50 euros, for its part exceeded 200 billion market capitalization, widening the gap with L'Oreal (146 billion) and Total (129 billion).
Saint-Gobain advanced 1.96% to 37.70 euros after the sale of its expanded polystyrene business in France.