The CAC40 surprised analysts on Monday, November 9 by buying the rumor to propel itself from 5,030 to 5,330 points on the rumors of a promising vaccine from Pfizer against Covid-19. At 11:45 a.m., the news gave hope to a market resigned to the consequences of the second wave.
It all happened in 30 minutes of trading, long before the wolves of Wall Street, served by the time zone, woke up. « This is a bullish crash, » say portfolio managers who have witnessed the most violent sector rotation in history.
The management went “full risk on” at 12:45 pm with + 100Pts in a few seconds, followed by an uninterrupted pick-up until an additional gain of 6%, then 7.6% in the end. About 9.2 billion euros were traded in a matter of minutes, equivalent to three or four sessions of the usual size.
This is quite simply one of the 8 biggest increases in the history of the CAC 40.
This represents an increase of + 17% in 6 sessions which is also among the 4 or 5 biggest weekly gains in history and the + 7.6% of the CAC40 on November 9 is the 8th highest increase in 24 hours in the story.