CAC 40: While inflation is still calming in the United States, the CAC 40 recovers 1.45% over the week
(BFM Bourse) – The Paris Stock Exchange ends close to equilibrium, after the data relating to inflation in the United States. The CAC 40 gained 1.45% at the end of a week marked by a rain of corporate publications and punctuated by important economic statistics.
The trend was undecided on the Paris Stock Exchange, the results season having largely occupied the minds of investors as well as the latest statistics relating to inflation in the United States.
The CAC 40 closes this last session of the week up a symbolic 0.02% at the gates of 7,100 points to 7,097.21 points. This small increase on the wire of the Parisian star index allows it to post an increase of 1.45% over the whole week and more than 9% since the beginning of the year.
On the agenda for the day were the inflation figures. And they reflect a slowdown in prices in December. The core PCE index, which is the data most monitored by the Fed to steer its monetary policy, is up 0.3% over one month as expected and 4.3% over one year after 4.7% in november. But from the point of view of consumption, it declined by 0.2% over one month, suggesting the start of a recession scenario.
Statistics that maintain the prospect that the US Federal Reserve is less determined to raise its rates next week. Moreover, the probability that the Fed will tighten its key rates by 0.25 points is 98.1% according to the FedWatch tool.
The flood of publications also enlivened market news on both sides of the Atlantic. US semiconductor giant Intel disappointed markets with below-expected results and the announcement of cautious guidance for the first three months of 2023.
30 solutions, the beginning of stock market redemption?
In France, market operators have had plenty of time to dissect the record results of LVMH, the first European capitalization with more than 400 billion euros. The title ends close to equilibrium at 800 euros. While the company maintained solid growth in the fourth quarter, the current operating margin disappointed expectations, at 26.6%, while analysts had forecast a profitability of 27.5%.
JCDecaux closed up 3.1% after posting better-than-expected fourth-quarter revenue and while Barclays raised its board to “outperform” from “neutral”.
The strongest progression of the day is nevertheless signed by Solutions 30 which took 23.1%. The group published its revenues for 2022 and experienced a “more dynamic than expected” end of the year, underlines TP ICAP Midcap.
Roche Bobois rose 2.85% after record sales in 2022 in a sluggish furniture market.
Rémy Cointreau, on the other hand, lost 3.7% despite the group warning that its activity would undergo normalization in the coming months.
Airbus picks up
Excluding publications, Airbus fell 3.6%, showing the largest decline in the CAC40. After Deutsche Bank the day before, it was Jefferies who went from “buying” to “holding” on the value this Friday.
Scor for its part is suffering, losing 5.7% after announcing the surprise departure of its managing director, Laurent Rousseau, replaced by Thierry Léger, a director of Swiss Re.
On other markets, the euro fell 0.3% against the dollar to 1.0864 dollars. Oil contracts turned down. The March contract on Brent from the North Sea for delivery in March is up 0.5% at 87 dollars a barrel, while that on WTI listed in New York for the same expiry is up 0.8% at 80.40 dollars. the barrel.
Sabrina Sadgui – ©2023 BFM Bourse