(BFM Bourse) – The CAC 40 resisted geopolitical risk this Friday, supported by L’Oréal, its heavyweight which jumped 5% after activity above expectations in the first quarter.
The Paris Stock Exchange closes its doors almost in balance this Friday evening. The CAC 40 closed down a symbolic 0.01%, at 8,022.41 points, less than a small point below its anchor point on Thursday evening. Over the week, the results are positive, with a slight gain of 0.14% thanks to the increases in the two previous sessions.
However, at the start of the session, the Parisian index was a little scared, losing a little more than 0.9% in the first exchanges, with a slight return of risk aversion.
During the night from Thursday to Friday, several explosions occurred in Iran and drones were shot down by the army near a military base.
“Iran, however, has largely dispelled this fear (of a conflagration in the Middle East, editor’s note) by minimizing the importance of the affair,” Bjarne Schieldrop of Seb bank explains to AFP. This encourages investors to put the risk of escalation in the region into perspective.
L’Oréal, star of the day, Ipsos is not popular
The CAC 40 was especially supported by one of its largest capitalizations, L’Oréal, which clearly acted as a shock absorber. The group gained a little more than 5% after achieving growth well above expectations for its first quarter.
Sodexo (+1.6%) and its former subsidiary Pluxee (+5%), listed on the stock exchange since last February, have both published growth and half-year results better than expected by the market.
Conversely, Edenred suddenly dropped in the afternoon to close down 6.9%, after press information on the investigation in Italy, citing the request by the Rome public prosecutor’s office for “the indictment of four people, former managers of Edenred Italia”, a local subsidiary of Edenred. The resident of the CAC 40 reacted to BFM Bourse, emphasizing that the indictment of the four former directors constitutes “a step” which is “an expected event within the framework of the investigation. It does not bring any new element “.
EssilorLuxottica limits its decline to 0.7%, the optical group having published growth in line with expectations in the first quarter.
Ipsos lost 7.8% sanctioned after activity in the first quarter described as “mixed” by Oddo BHF which removed the title from the list of its convictions on mid-caps.
Renault fell by 2.2%, penalized by the warning from Nissan on its results, of which the diamond brand is still a shareholder.
On the foreign exchange market, the euro gained 0.1% against the dollar to 1.0658 dollars. Oil yo-yos and starts to rise slightly again. The June North Sea Brent contract gained 0.2% to $87.30 per barrel, while the May WTI contract rose 0.4% to $83.06 per barrel.
Sabrina Sadgui – ©2024 BFM Bourse