(BFM Bourse) – The Paris Stock Exchange ends this busy week in company results by gaining 0.73% on a weekly basis. The publication of Hermès once again delighted investors where that of L’Oréal displeased.
The Paris Stock Exchange will take a well-deserved rest after a week punctuated by numerous company publications. The CAC 40 struggled to continue its rebound, closing down 0.24% this Friday at 7,647.52 points, torn between the significant fall of L’Oréal and the rise of Hermès.
Over the week, L’Oréal’s failure did not prevent the flagship Parisian index from showing an increase of 0.73%.
Today’s session was also marked by data relating to inflation on both sides of the Atlantic. In the United States, the annual revision of estimates of the CPI consumer price index has been limited. In December, the increase in consumer prices was revised downwards from 0.3% to 0.2% while those of October and November were revised slightly upwards. In Germany, inflation was confirmed at 2.9% year-on-year in January.
Note that the S&P 500 on Wall Street is moving around 5,000 points, after having already briefly crossed this threshold one minute before the close on Thursday evening.
A transfer of power at the top
On the values side, the news has been rich. L’Oréal particularly suffered this Friday, losing 7.6%. The cosmetics group published growth significantly below expectations over the last three months of 2023, weighed down by China, where sales in airports and train stations are weighed down by the fight against the gray market.
Conversely, Hermès gained 4.8% after publishing growth of 17.5% on a comparable basis in the fourth quarter, significantly higher than the figure of 14% expected by the consensus. The saddler once again takes on the role of best luxury student in terms of growth.
Moreover, Hermès has passed L’Oréal on the stock market, becoming number 2 in Paris behind LVMH.
The hit of the day, however, is from Ubisoft (+13.8%) which defied predictions by publishing revenues higher than expectations and above all by confirming its prospects, while the market was very clearly expecting a lowering of its objectives.
Kering gained 0.9% benefiting from an increase in purchasing advice from UBS, the Swiss bank judging that the worst has passed through the parent company of Gucci. She also considers that the recovery of the Italian brand has chances of success, seeing signs of better dynamics.
Conversely, UBS went from “buy” to “neutral” on BNP Paribas which lost 2%. “BNP is cheap in absolute terms, but we believe it is too dependent on the growth of CIB (the corporate and investment bank, Editor’s note) to achieve its return on tangible equity (ROTE) objective,” advances the Swiss bank.
As for mid-sized stocks, the semiconductor group X-Fab lost 12.9% after dropping almost 20% in early trading. The market sanctioned outlooks below expectations, notes Degroof Petercam.
On other markets, the euro gained 0.1% against the dollar to 1.0784 dollars. Oil is sluggish: the April contract on North Sea Brent rose 0.15% to 81.75 dollars per barrel, while that of the same maturity on WTI listed in New York gained 0.2% to 76.36 dollars per barrel.
Sabrina Sadgui – ©2024 BFM Bourse