the Paris Stock Exchange galvanized by the good resistance of companies

The corporate earnings season galvanizes the financial markets. In July, the CAC 40 index jumped by nearly 9% and achieved its best monthly performance since November 2020. An increase that contrasts sharply with the disastrous performance of the first half (-15.5%), when investors were brooding.

Since the beginning of the week, the CAC has gained more than 1%. “With the war in Ukraine, all investors have become very pessimistic. They feared a deterioration in the global economy and expected that it would already have an impact on businesses. The mistrust was consensualexplains Gilles Guibout, head of European equities at Axa IM. However, against all expectations, the half-year results are good overall and show no sign of a slowdown in their activity. Investors have all regained some optimism.

“There were no disappointments”

In fact, for now, galloping inflationsoaring material costs, etc.