(BFM Bourse) – The flagship index of the Paris Stock Exchange ends in extremis in the green after having evolved most of the session in bearish territory. A wait-and-see attitude remains in order as investors are increasingly attentive to the impact of cost increases on corporate accounts.
On the wire. The CAC 40 ends the day up slightly by 0.07% to 6542.14 points, despite a foray below 6500 points in the early afternoon. On Wall Street, the Dow Jones rose 0.23% to 34,298 points, the Standard & Poor’s 500 meanwhile gained 0.16% to 4,404.68 points. Operators are taking little initiative on Wednesday as the US Department of Labor announced an acceleration in the producer price index for the month of March. It rose 1.4% in March month-on-month and 11.2% year-on-year. The day before, it was the consumer price index for March which fueled these inflationary fears with an unprecedented level reached since December 1981 (+8.5%, according to the figure published on Tuesday).
On the business side, JP Morgan Chase did not convince investors when it published its quarterly results. The first American bank which opened the ball of results on Wall Street, saw its activity collapse by 42% over one year due to a drop in income from its investment banking and trading activities. On Thursday, the pace will intensify with results from Goldman Sachs, Citigroup, Morgan Stanley and Wells Fargo.
In this inflationary context, defensive stocks are doing well, such as Biomérieux, which ended the session up 3.43% at 96.40 euros.
The star of the LVMH rating manages to close in the green (+0.51% to 634.10 euros). Sales of the world’s number one luxury brand had received a mixed reception, with analysts noting in particular a black spot in the group’s performance in the “wines & spirits” division, up only +2% with in particular a drop in volumes for the Hennessy cognac, due to supply and logistics constraints. For their part, Pernod Ricard (-2.49%) and Rémy Cointreau (-4.40%) are particularly penalized because of their exposure to the cognac segment.
Renault finally gains 0.45% to 22.27 euros after the announcement of a separate listing project for its electrical activities.
Oil still on the rise
Carmilia gains 5.21%, operators applaud the sale of a portfolio of assets in France to Batipart and Atland Voisin. In its wake, Klepierre wins 2.16%.
SRP Groupe soars by more than 20% following the acquisition of The Bradery, a site specializing in private sales of premium ready-to-wear clothing targeting young people. Mauna Kea Tech rebounds 15.90% after new US FDA approval for its Cellvizio platform and Ekinops rebounds 5.47% posting dynamic organic revenue growth at the start of the year, largely in line with the goal for all of 2022.
In sharp rebound since the beginning of the week with the prospect of an embargo on Russian hydrocarbons, oil prices remain on the rise at 106.91 dollars per barrel of Brent (+ 2.31%) and 102.45 dollars with regard to the WTI (+1.84%) despite an unexpected increase in the level of American stocks last week. TotalEnergies gained 1.2% in this context, while CGG rose 4.53% to 1.107 euros.
On the foreign exchange side, the euro rose 0.35% to 1.0864 dollars.
Sabrina Sadgui
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