Cac 40: the CAC 40 continues to climb and crosses the 7,000 points mark – BFM Bourse

(BFM Bourse) – For the first time in its history, the main sample of the tricolor rating shows more than 7,000 points on the counter.

From record to record. After erasing tablets its historic summit in closing Tuesday, then established a new absolute peak in session Wednesday, the CAC 40 did not stop there and reached the threshold of 7,000 points this Friday at 9:10 am (+ 0.18% at 7,001 points)

More than the new quarterly results, the Parisian market benefits – again – from the records recorded the day before on Wall Street. The S&P (+ 0.4%) and the Nasdaq (+ 0.8%) indeed signed a 5th consecutive all-time high at the close on Thursday while investors were reassured by the unsurprising announcements from the Fed on Wednesday evening.

The US central bank in fact said on Wednesday afternoon that it would reduce its bond purchases in the market as early as this month, thus signaling the kick-off of the much-anticipated “tapering”, but reiterated its opinion that inflation remains largely transient and therefore seems in no hurry to raise rates. The markets will therefore evolve “still in a very accommodating environment which will support the growth prospects in the coming quarters and the performance of risky assets, such as equities” explains Kerry Craig, market strategist at JP Morgan Asset Management.

It is therefore a certain relief that reigns in markets otherwise enthusiastic about this news generally convincing season of quarterly results coming to an end, and this allows the CAC 40 to move (at this stage) towards a 7th consecutive session of increase this Friday, which has not happened since April 2019. The other European indices are not to be outdone, the Dax 30 having notably crossed the 16,000 points for the first time in its history Thursday in Frankfurt.

Quentin Soubranne – © 2021 BFM Bourse