AFP, published on Friday 20 January 2023 at 19:16
The Paris Stock Exchange finished the week on a positive note on Friday, failing to recover 7,000 points ahead of a busy week due to the start of the corporate earnings season in Europe.
The star CAC 40 index finished the session up 0.63% at 6,995.99 points after a 1.86% air pocket the day before, which broke the early-year euphoria marked up up to then from 11 fences in the green out of 13 seats.
Worries about the US economy rocked world markets Thursday, which remain focused on inflation, which US and European central banks have been trying to counter since last year by raising their key rates.
If the session marked “a break in this very positive start to the year”, Friday “is a session of balance” and “transition” before the publication of “highly anticipated” results next week, Christopher Lhuillier explained to AFP, head of expert advice at Milleis, who notes however that the European luxury sector remains in demand.
While central bankers on both sides of the Atlantic remain steadfast in their rhetoric and “show no willingness to deviate from their restrictive course”, “investors have eliminated risk from their strategies and it is likely that it will not come back thanks to good quarterly data and, above all, optimistic outlook for companies in the coming days,” said Konstantin Oldenburger, analyst at CMC Markets.
In addition to the publications of the first financial statements, the sessions will be fueled by macroeconomic indicators with, from Monday, household confidence in the Eurozone in January ahead of Tuesday’s PMI leading indicator estimates and the first estimate of gross domestic product for the fourth quarter in the United States. United Thursday.
The shares of Thales (+1.91% to 120.25 euros), Safran (+1.73% to 129.42 euros) and Airbus (+1.71% to 118.92 euros) benefited from the expected increase in budget of the French armies at 400 billion euros in the period 2024 -2030, announced by Emmanuel Macron. Dassault, on the other hand, dropped 1.56% to 34.29 euros.
Productive week for Pierre et Vacances
The share of the Pierre et Vacances group, European number one for leisure residences, closed on Friday up 8.86% (at 1.45 euros), an increase of 20.8% over the week. The company posted on Tuesday revenues in line with targets in the first quarter of its 2022-23 staggered financial year of €352m, up 12% on a year.