(BFM Bourse) – The Paris Stock Exchange ended almost in perfect balance this Wednesday evening in a wait-and-see climate before the publication, Thursday, of inflation in the United States. Hermès took the lead in the Parisian index, while Saint-Gobain finished bottom.
A day without much interest at the Paris Stock Exchange. The CAC 40 remained frozen in a narrow corridor of a few points, finally ending its race with a symbolic drop of 0.01% to 7,426.08 points.
Investors are refusing to take the slightest risk on the eve of the publication of inflation in the United States. This statistic will be published Thursday afternoon and will be decisive in influencing market expectations on the evolution of the monetary policy of the American Federal Reserve (Fed).
“The start of the year was not the most lively, but given the way the previous one ended, there was always a risk. Investors ended 2023 full of optimism and “it was going to be difficult to maintain this state of mind at the start of the new year, especially since policy makers continue to push back the idea of a large number of rate cuts,” says Craig Erlam, analyst at d ‘Oanda.
“The December inflation report could get things back on track, although the consensus view at this point of a monthly CPI of 0.2% and an annual CPI of 3.2% is not hardly encouraging. The base index is what matters most, and an index lower than the consensus could once again arouse enthusiasm in the markets,” continues the specialist.
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Saint-Gobain less concrete for Bank of America
To find entertainment, you had to look at company news. On the upward side, we find Sodexo which increased by 0.8% while its subsidiary Pluxee delivered its medium-term outlook three weeks before the start of its IPO on February 1.
The red lantern of the CAC 40, Saint-Gobain, on the other hand, lost 2.9%, downgraded to “neutral” by Bank of America, which is therefore no longer a purchase. The research firm fears that the company’s margins and results will have reached their peak in 2023.
L’Oréal lost 0.1%. The cosmetics group presented its ambitions at CES in Las Vegas in “beauty tech”, presenting for example the Beauty Genius application, “a virtual personal advisor”.
Air France-KLM remained on the tarmac (-5%) weighed down by a note from JP Morgan which displays its caution on the issue, and thus renewed its opinion to be underweight with a price target lowered by 9.5 euros at 9.2 euros.
On the small and mid-cap side, the aeronautical equipment manufacturer Figeac Aéro rebounded (+10.7%), praised for its new strategic roadmap. Called “PILOT 28”, this plan forecasts turnover for the company for the financial year ending in March 2028 to increase by 70% compared to 2022-2023.
On other markets, the euro gained 0.3% against the dollar to 1.0957 dollars. Oil prices are sluggish. The March contract on North Sea Brent lost 0.1% to $77.53 per barrel, while the February contract on WTI listed in New York gained 0.1% to $72.30 per barrel.
Sabrina Sadgui – ©2024 BFM Bourse