(BFM Bourse) – A session almost for nothing. In the absence of participants in the United States, the CAC 40 ended up symbolically up 0.08% on Friday evening. Enough to post an eighth week in a row in the green.
Where have the investors gone? Surely in stores to take advantage of significant discounts on the occasion of Black Friday. This “black crowd” day designates the Friday which follows Thanksgiving, a public holiday in the United States.
Moreover this Friday, the New York Stock Exchange will only perform half a session, wedged between the Thanksgiving holiday and a weekend. This explains the desertion of operators and fuels the lack of volumes. Deprived of indicators and major information, the CAC 40 closed up a small 0.08% to 6,712.48 points on Friday evening.
“Maybe today people are swapping their charts for Black Friday deals, the outcome of which will definitely be on everyone’s radar. As the holiday season approaches, we will get a first idea the state of household spending in a context of the cost of living crisis”, laughs Craig Erlam of Oanda.
An exaggerated bounce?
The flagship index nevertheless gained more than 1% over the week as a whole, supported in particular yesterday by the minutes of the last US monetary policy meeting of the Federal Reserve (Fed). This document confirmed that the monetary institution intends to slow down its next key rate hikes.
“While the maximum level of key rates that the market anticipates for 2023 seems reasonable to us (just below 5% for the Fed and 3% for the ECB), the risk is that rates will rise further and above all remain high. longer. In this context, the rebound in risky assets seems exaggerated to us”, analyzes Xavier Chapard of La Banque Postale Asset Management.
OVH fell from its stock market cloud
In terms of values, OVHcloud closed down nearly 1%. The cloud specialist had however started the session with a bang (+6.3% around 9:15 a.m.) after confirming financing from the European Investment Bank for a maximum amount of 200 million euros.
Thanks to good half-year accounts, champagne producer Laurent Perrier rebounded 5.7% after a timid start to the session.
While a small rise in bond rates is observed, property companies, which are particularly sensitive, are falling. Icade lost 2.8%, Mercialys (-0.7%) and Klépierre (-1.7%).
On the other markets, the euro lost 0.1% against the dollar at 1.0399 dollars. Oil prices are heading back down slightly after their rebound. The January North Sea Brent contract fell 0.4% to $85 a barrel while New York-listed WTI returned 0.2% to $77.77 a barrel.
Sabrina Sadgui – ©2022 BFM Bourse