(AOF) – European markets ended Thursday’s session slightly higher, as Wall Street was closed for Thanksgiving celebrations. The CAC 40 rose 0.48% to 7,075.87 points, and the Euro Stoxx 50 rose 0.37% to 4,292.01 points.
Concerns surrounding the covid-19 epidemic, as more countries take further restrictive measures, have not deterred investors, who have tended to turn to defensive stocks.
Inflation has not damaged their morale any more today, despite comments made by some officials of the Fed and the ECB at their last respective meetings. In its “minutes”, the US central bank revealed last night that several of its executives said they were in favor of accelerated monetary tightening and a rise in rates faster than expected if inflation were to persist.
On the other hand, the Governing Council of the ECB for its part ruled out a rate hike from 2022. The minutes of the October meeting, published this afternoon, indeed affirms that the institution must maintain margins maneuver beyond December because it may not have all the data necessary to take a position.
During the press conference that followed, Christine Lagarde, President of the ECB, however acknowledged that inflation could remain high longer than expected due to supply problems and high commodity prices.
As for statistics, only the second estimate of German GDP growth in the third animated the session. This has been revised downwards to + 1.7%, against + 1.8% in the first estimate.
On the markets, Pernod Ricard (+ 2.45%) benefited from the good publication of Rémy Cointreau (+ 13.43%). Defensive stocks such as Worldline (+ 1.92%), Dassault Systèmes (+ 1.92%) or Hermès (+ 1.69%) were sought after, while industrialists ArcelorMittal (-0.97%) or Michelin (-0.5%) were left behind.
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