(BFM Bourse) – The Parisian index lost 0.26% this Friday, penalized in particular by disappointing retail sales in China.
The stock market ends the week on a bad note. The CAC 40 lost 0.26% this Friday to 8,167.50 points. Over the week, the Parisian index lost 0.63%. The Parisian market struggled to move forward during the week, but it came close to its record during the session on Wednesday and broke that record several times at the close.
This Friday, the trend was penalized by a disappointing statistic in China. In April, retail sales, a barometer of consumption, slowed their growth to 2.3% after 3.1% the previous month, and a consensus at 3.7%, according to economists surveyed by Bloomberg.
A sign that the Chinese authorities have become aware of the issue, Beijing unveiled various measures on Friday to revive its real estate sector, reported Agence France Presse.
>> Access our exclusive graphic analyses, and gain insight into the Trading Portfolio
American indices are struggling to advance
Even the American indices, which broke their records this week, are showing signs of running out of steam. The S&P 500 and the Nasdaq Composite are close to balance, shortly before the European close this Friday.
Risk appetite was fueled this week by US inflation in line with expectations. This reinforced market hopes for rate cuts from the American Federal Reserve (Fed). Investors are currently anticipating key rate reductions of 50 basis points, or 0.5 percentage points.
“Inflation slowed a little in April after three months of high inflation during the first quarter. (…) This is a relief for the markets, because it suggests that the risk of inflation reaccelerating remains limited, as we thought, the Fed should therefore not question its bias for future rate cuts, and even less increase its rates further,” explains Xavier Chapard of LBPAM.
Carmat falls, Clariane rises
On the value side, Engie recovered and finally fell by 0.06% after reporting slightly lower results in the first quarter, but in line with market expectations.
Carmat lost 22.5% after announcing a capital increase of 16 million euros which will allow it to extend its financial visibility until August. The group will need an additional 30 million euros to ensure its operations over the next twelve months.
Sodexo gained 3.2% while Morgan Stanley raised its advice to “overweight”, the bank showing confidence in the dynamics of its activities in the United States and the simplification of its structure.
Clariane (formerly Korian) gained 10% after announcing that the HLD Europe group would take a stake of around 20% as part of a reserved capital increase, becoming a new reference shareholder. Funds already shareholders of the group will also participate in this reserved capital increase.
Note that in Zurich, the luxury group Richemont gained 5.7% thanks to its annual results.
On other markets, the euro is stable against the dollar at 1.0866 dollars. Oil is grabbing ground. The July North Sea Brent contract gained 0.4% to $83.63 per barrel, while the June WTI contract gained 0.5% to $79.60 per barrel.
Julien Marion – ©2024 BFM Bourse