(BFM Bourse) – The CAC 40 finished close to equilibrium this Thursday as the market continued to dissect the statements of the President of the Federal Reserve from the day before. Weekly unemployment claims in the United States have also increased.
Session without much relief for the CAC 40. The Parisian index ended this Thursday down 0.02% to 8,151.55 points.
The Parisian market underperformed Europe but also the United States where the S&P 500 gained 0.7% at the European close.
“Stocks continue to react to comments (from the president of the American central bank Jerome) Powell, who was rather accommodating yesterday,” said Karl Haeling, of LBBW, quoted by Agence France Presse.
The chairman of the US Federal Reserve (Fed) said the recent data did not fundamentally change the situation. The central banker also reiterated that if “the economy generally develops as we expect, most participants in the monetary policy committee consider it likely to be appropriate to start lowering the policy rate at some point this year.”
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Renault biggest rise in CAC 40
Investors will turn their attention to the big event of the week, namely the publication of the American employment report for March, which will be revealed Friday afternoon. In the meantime, they took note of the increase in weekly unemployment claims in the United States which amounted to 221,000 units against 212,000 the previous week and a Reuters consensus at 214,000.
On the value side, Renault advanced by 3.2%, driven by HSBC which confirmed its buying opinion while significantly raising its price target to 57 euros compared to 47 euros previously. The Sino-British bank believes that the market could be more confident in the prospects of cash generation and return to the group’s shareholder, which should further support its title.
Solutions 30 for its part lost 13% while the group showed a cautious outlook for the current year, citing in particular the holding of elections in Belgium.
At the level of smaller stocks, Gaussin collapsed by 42.4%, after announcing the opening of legal protection proceedings following its financial difficulties.
On other markets, the euro advanced slightly against the dollar, gaining 0.3% to 1.0869 dollars. Oil is falling a bit. The North Sea Brent contract for June lost 0.2% to $89.17 per barrel, while the May contract for New York-listed WTI lost 0.4% to $85.12 per barrel.
Julien Marion – ©2024 BFM Bourse