(BFM Bourse) – The Paris Stock Exchange posted its first increase in May, thanks to data on American employment well received by the market. The CAC 40 gained 0.54% Friday evening, but returned 1.6% weekly.
First increase of the week and of the month of May for the Paris Stock Exchange, which had to digest a new burst of publications and a federal report on American employment.
The CAC 40 negotiated these hot spots relatively well, and ended up 0.54% at 7,953.36 points this Friday evening. The Parisian index even offered a brief foray over 8,000 points to 8,003.95 points (+1.13%) after an employment report showing an easing of tensions on the labor market across the Atlantic.
The world’s largest economy created fewer jobs than expected in April, with 175,000 positions, while economists surveyed by the Wall Street Journal expected 240,000 job creations. Above all, the price component of this publication was a source of relief, since the average salary only increased by 0.2% over one month, compared to 0.3% anticipated by the market.
On the bond market, the effect of this major statistic was immediate. The 10-year American debt rate fell sharply to 4.507% compared to 4.568% the day before.
But the progression of the CAC 40 was slowed by the publication of an ISM for services marking a contraction of this sector in the United States. The index stood at 49.4 in March after 51.4 in March, against a consensus of 52.0. Above all, this statistic highlights a clear acceleration in the prices paid by companies.
Despite the day’s increase, the flagship Parisian index lost 1.62% over this truncated week marked by numerous company publications.
Societe Generale sees red
On the CAC 40, Crédit Agricole SA (+1.1%) rather convinced the market, after publishing results above expectations and bringing forward its medium-term profit objective by one year. Up 4% at the start of the session, Société Générale recorded the biggest drop in the CAC 40 this Friday evening (-5.2%)
If the results of the La Défense bank were generally good, the fall in the stock occurred following comments from the financial director, Claire Dumas on the net interest margin (in short, the money released on loans, via the difference between the interest received and that paid on deposits) in France.
Legrand fell 2.4% after publishing results below expectations for the first three months of the year.
Excluding the CAC 40, JCDecaux was convincing (+9.9%) thanks to lively activity in the first quarter and solid prospects for the second.
On other markets, the euro advanced 0.4% against the dollar to 1.0770 dollars, after the day’s statistics. Oil is falling again. The July contract on Brent from the North Sea returned 0.6% to 83.19 dollars per barrel while that of June on WTI listed in New York lost 0.7% to 78.37 dollars per barrel.
Sabrina Sadgui – ©2024 BFM Bourse