Cac 40: Penalized by the decline of Saint-Gobain, the CAC 40 falls back

(BFM Bourse) – The Parisian index lost ground at mid-session this Friday while Saint-Gobain, heavyweight on the stock market, was sanctioned after the publication of its annual results.

The Paris Stock Exchange is still struggling to find catalysts this Friday. The CAC 40 dropped 0.06% to 7,922.82 points at mid-session. Over the week, it is currently down 0.5%.

Investors are integrating the inflation figure for the euro zone for the month of February. According to Eurostat, the consumer price index, a benchmark measure of price increases, increased by 2.6% over one month compared to 2.8% in January. This slowdown is less pronounced than predicted by the figure of economists surveyed by Reuters (2.5%).

If the last few days have not been very buoyant for the Parisian stock market, the market trend nevertheless remains relatively positive, taking a step back. Particularly thanks to company results.

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Saint-Gobain in the tough

Deutsche Bank notes that 69% of Stoxx Europe 600 companies published their results as of Thursday’s close. On average, profits beat expectations by 7%, underlines the German establishment.

The CAC 40 was nevertheless penalized this Friday by the marked drop in Saint-Gobain, which fell by 4.5%. The company generated record margins and cash in 2023. But revenues are a tad lower than expected and the group indicated during a conference call that volumes would continue to decline in 2024.

Vallourec lost 3.35% after publishing its results and communicating outlooks deemed “cautious” by an analyst for 2024.

Valeo, for its part, lost 2% while the group lowered its objectives for 2025, both in terms of revenue and margins.

On other markets, the euro gained 0.1% against the dollar to 1.0816 dollars. Oil is rising. The May contract for North Sea Brent crude advanced 1.6% to $83.20 per barrel, while the April contract for WTI listed in New York also gained 1.6% to $79.52 per barrel. barrel.

Julien Marion – ©2024 BFM Bourse

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