The Paris Stock Exchange started the week close to breakeven (-0.05%) and 7,000 points on Monday, in calm weather before an avalanche of corporate indicators and results for the rest of the week.
The top CAC 40 index fell 3.64 points to 6,992.35 points around 9:40 am after a higher open. It gained 0.63% on Friday, limiting its weekly losses to 0.39%.
In 2023, the Parisian index gained 8%. “Everything seems to be going quite well. We are seeing a return of flows to neglected sectors in 2022 (…) In the bond market, we see a real relaxation on both sides of the Atlantic”, summarizes Christopher Dembik, Research Director macroeconomics at Saxo Bank.
Despite Thursday’s call to order, when the CAC 40 had its worst session of the year, US Federal Reserve officials are sending positive signals for the market, which is certain of a slowdown in rate hikes. scheduled for January 31st and February 1st.
Conversely, the still firm tone of the governors of the European Central Bank in recent days has pushed the euro up to 1.09 dollars, the highest level since April.
But ahead of this meeting, several macroeconomic indicators are on the agenda, most notably those of PMI activity on both sides of the Atlantic on Tuesday, or even US growth and inflation (PCE) at the end of the week.
Many business results are expected in the US, such as Microsoft on Wednesday, but also in Europe. In France, the world’s number one luxury and Europe’s largest capitalization LVMH will kick off its annual results on the CAC 40 on Thursday after the close.
Alstom will give third quarter revenue on Wednesday before opening.
Cyclic values forward
Dominating the CAC ranking was the shopping center giant Unibail-Rodamco-Westfield (+2.74% to 57.27 euros). Bank stocks also rose, such as Crédit Agricole (+1.05% to €10.63) and Société Générale (+0.98% to €28.55).
The technology brought by the Nasdaq
In the wake of the sharp rise in the Nasdaq technological stock index on Friday (+2.66%), French sub-funds made progress, such as Capgemini (+0.91% to 172.40 euros), Dassault Systèmes (+0.51% to 34.47 euros), or Atos (+3.38% to 12.24 euros).
The State exceeds 90% of EDF
The French State has crossed the threshold of 90% of EDF’s capital, a crucial step in completing a takeover bid intended to renationalise the electric giant in order to relaunch it, but the outcome of which still depends on a court decision. The share is still trading at 12.00 euros, the price of the state’s purchase offer.