CAC40: back to 8100, E-Stoxx to 5000, Nasdaq +1.5

(CercleFinance.com) - The Paris stock market gained nearly 0.
8%, with the CAC40 climbing back above 8,100 in the wake of the S&P500 (+1% to 5,065), which made a good start to the session, with the VIX continuing to ease back towards 16 (compared with 18.6 on Monday when trading resumed).
The Euro-Stoxx50 is even more dynamic, with +1.3% at 5,000... in the wake of the Nasdaq, which accelerates its recovery to +1.5% at 15.680.

Another positive factor was a stronger-than-expected rise in the HCOB composite PMI flash index of overall activity in the Eurozone, which rose from 50.3 in March to 51.4 in April, signalling a second consecutive monthly increase in private sector activity levels, after nine months of economic contraction in the region.

In France, the HCOB composite PMI index for overall activity rose by +1.6 to 49.9, its highest level since May 2023.
According to Oddo BHF, this rebound in PMIs confirms the beginnings of a recovery after several quarters of stagnation.

Investors are also keeping a close eye on US 10-year government bond yields, which are down -3.5pts at 4.589%, while German Bunds of the same maturity are stagnating at 2.49% and our OATs at 2.988%.
In the United States, new home sales rebounded by +8.8% in March despite persistently high interest rates, with the median selling price even rising again, according to data released Tuesday by the Commerce Department.

Sales rose to 693,000 units on a seasonally-adjusted annualized basis, after 637,000 units the previous month.
On an annualized basis, i.e. compared with March 2023, sales were up 8.3%.
In detail, sales rose in the Northeast (+27.8%) and the West (+8.6%).

The median price over one year was $430,700.700, up from $406,500 in February.
The euro gained 0.4% against the greenback, to $1.0695/E, as the easing of tensions between Israel and Iran did not deter investors from safe-haven assets such as the dollar.

Brent crude oil reversed course, rising from +0.8% to $87.8 and holding steady at around $87, while gold shed a further 1% to $2,315 an ounce.

In French company news, Renault Group reports sales up 1.8% (+5.9% at constant exchange rates) to 11.7 billion euros for the first quarter of 2024, with automotive sales down 0.7% (+3.6% at constant exchange rates) to just over 10.4 billion.

Sanofi announces that its phase III LUNA 3 study of rilzabrutinib for the treatment of immune thrombocytopenia (ITP) has met its primary endpoint, enabling patients to achieve a durable platelet response.

Finally, Legrand announces two acquisitions (Enovation in the Netherlands and Netrack in India), in the buoyant fields of assisted living and healthcare, as well as in data centers, 'reinforcing the Group's leadership positions in its fastest-growing segments'.

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