(BFM Bourse) – The Paris Stock Exchange closed up 0.6% for this last session of the week. But on a weekly basis, the balance sheet remains negative for the CAC 40 (-0.77%) which was shaken by fears about rates and inflation.
Investors had to be patient and wait until the last session of the week to see the Paris Stock Exchange take on a very green hue.
Hesitant at the start of the course, the Parisian place revived in the afternoon driven by cheap buyouts in New York. Particularly on Apple which is regaining color after having swallowed up almost 200 billion dollars in market capitalization in two days, following press information from Wall Street Journal regarding China.
The slight easing in bond yields is providing support for European stock markets. The 10-year German Bund rate stood at 2.6010% against 2.657% in the middle of the week.
The CAC 40 therefore closed up 0.62% at 7,240.77 points the day after closing at equilibrium (+0.03%). The balance sheet, however, remains negative (-0.77%) over a week marked by fears about the situation of the economies, particularly in China and Europe, to which are added new signs of inflationary tensions.
The European Central Bank will hold its monetary policy meeting next week, on September 14. According to a Reuters survey, a majority of economists expect a status quo on rates. The US Federal Reserve will deliver its verdict on key rates a week later.
Worldline is attempting a rebound, luxury too
As for values, Worldline regained 3.3% after losing more than 7% over the last three sessions. The luxury sector, which was struggling in recent sessions, has also picked up. LVMH took the lead in this stock market recovery movement with a gain of 2.2% at the close, followed by Kering (+1.5%) and Hermès (+0.8%).
On the contrary Renault, which remained on three sessions in the green, ends its race in the red (-0.9%).
Excluding the flagship index, Stef gained 2.8%, the half-year results came out better than expected, received a favorable reception.
On the other hand, Abivax lost 2.1% after taking stock of its operational and commercial activity on Thursday.
An IPO should also soon occur on the Parisian coast since Imeon Energy, which designs a solution aimed at improving the performance of solar installations via artificial intelligence, intends to raise 8 million euros on Euronext Growth.
On other markets, the euro gleans 0.1% to 1.7012 dollars. Oil is rising. The November North Sea Brent contract advanced 0.9% to $90.73 per barrel, while the October contract gained 0.8% to $87.50 per barrel.
Sabrina Sadgui – ©2023 BFM Bourse