(BFM Bourse) – The CAC 40 posted an increase of 0.4% this Friday evening after the US employment figures, which was the big meeting this weekend. But this burst of pride proves to be insufficient, the star index returns 3.89% on a weekly basis.
The Paris market closes this last session up slightly by 0.42% to 7111.88 points after the publication of the US employment report at the start of the afternoon showing a slowdown in job creation in June.
Last month, the United States therefore created 209,000 new jobs, against 240,000 expected by a consensus compiled by the wall street journalwhile the unemployment rate fell slightly to 3.6%.
Behind this relative easing of tensions on the labor market, there is still an increase in the average wage. It further appreciated by 0.4% compared to May and 4.4% over one year. This is slightly above the 0.3% increase over one month, expected by the market. However, for investors, this component adds yet another argument to the US Federal Reserve to proceed with further rate hikes.
This explains the timorous reaction of investors after this statistic, which was the high point of this week on the markets. The progress of the day is above all insufficient to make up for the heavy losses accumulated over the week. On a weekly basis, the CAC 40, which has chained 4 sessions of declines out of 5, shows an unflattering balance sheet (-3.89%).
Thursday, the Parisian place had dropped more than 3% already worried about the tightening of monetary policies, that of the American Federal Reserve (Fed), in the lead, following the publication of the report of the last monetary policy meeting of the American institution, showing that the June pause on rate hikes had been subject to debate. The trend was also reinforced by the much better than expected figures on employment in the private sector from the ADP cabinet.
On the geopolitical front, US Treasury Secretary Janet Yellen is currently on tour in China in a tense context between the two countries. Li Qiang, Chinese Premier, said he sees a kind of “rainbow” in relations between China and the United States. But in the context of a diplomatic visit, these remarks are obviously subject to caution.
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A sparkling weekend for SES-imagotag
As for values, SES-imagotag offered itself a 31.60% rebound on Friday despite the new projection of Gotham City Research, the short seller, which published the second part of its vitriolic report against the company. . But the market was probably expecting more frank and concrete attacks, while this second volume does not provide any really brutal additional elements.
Airbus recovered 1.3% after reporting 72 aircraft deliveries in June, a marked increase in the pace, which lends credibility to its target of 720 aircraft delivered for the whole of 2023.
It was difficult to follow Rallye this Friday, with a very volatile title. Still up 13% at the start of the afternoon, the stock ended its run down 2.9%. The Autorité des marchés financiers has demanded a fine of 27.5 million euros against the parent company of Casino for disseminating false or misleading information.
On other markets, the euro is picking up (+0.6%) at 1.0955 dollars after the US employment figures. Oil prices are moving a little in the green. The North Sea Brent contract for September delivery is up 1.6% at $77.75 a barrel, while the New York-listed WTI contract for August is up 1.7% at 73.03 dollars per barrel.
Sabrina Sadgui – ©2023 BFM Bourse