Cac 40: CAC 40 ends at 7900 points for the first time thanks to Nvidia at the top of its form

(BFM Bourse) – The Paris stock exchange continues its growth, thanks to Nvidia which has literally mesmerized the markets after stratospheric results and prospects. The CAC 40 finishes its race at 7,900 points for the first time.

You almost get used to it. The Paris Stock Exchange is pushing back its peaks a little more every day, this time supported by Nvidia which has delighted the markets after a phenomenal release.

The CAC 40 rose 1.27% to 7,911.60 points this Thursday evening, setting a new, unprecedented closing mark. During the session, the tone was already set, with a definite peak of 7,923.96 points just after the American markets opened, in turn welcoming the performance of the American graphics chip giant.

New records for Nvidia?

The graphics chip giant has once again surprised investors with better-than-expected quarterly results, and announced prospects that were also appreciated by markets. On Wall Street, Nvidia shares rose 15% to a new high of around $780. The group sees its market capitalization rise to $245 billion, equivalent to Hermes in the stock market. If the stock maintains this performance, it will topple the Meta, which gained $200 billion in a single session in early February.

The enthusiasm around Nvidia also benefited semiconductor sector stocks such as STMicroelectronics, which rose 2.3%. Elsewhere in Europe, Dutch ASML rose 5.1%.

The impact of Nvidia’s results is such that the American group has completely relegated the traditional weekly unemployment registrations, like every Thursday, to the background. They still show the strength of the job market in the United States, with 201,000 registrations, below the consensus expectation of 218,000 and the figure revised up to 213,000 from the previous week.

Still on the macroeconomic side, sector activity in the euro zone contracted less than expected in February. The composite “flash” PMI index, which combines services and manufacturing activity, rose to 48.9 points, above consensus (48.5 points) and after 47.9 points in January.

Sopra steria at the top

The market also had plenty of time to dissect the releases of the French groups. In terms of CAC 40 values, Axa rose 2.6% after “successfully” achieving its key financial objectives for 2023. For example, the group published a net profit of more than 7 billion euros, of which it plans to return three-quarters. shareholders

Eng appreciated by 1.5% after publishing 2023 accounts driven by its activities in energy management and renewables. The group also raised its forecast for the 2024 financial year.

Danone limited its decline to 0.1%, as the agri-food group indicated it expects a slowdown in its revenue growth in 2024.

Excluding the flagship index, Sopra Steria (+9.7%) led the stock market after posting annual results that beat its expectations.

Bureau Veritas (+7.5%) and Plastique Omnium (+6.8%) are also in demand after their releases.

Elsewhere, the euro fell 0.1% to $1.0813 against the dollar. Oil continues to rise. The April contract on North Sea Brent rose 0.8% to $83.66 a barrel while New York-listed WTI was also at $78.66 a barrel.

Sabrina Sadgui – ©2024 BFM Bourse