(BFM Bourse) – The CAC 40 gained some ground in the middle of the session without however anchoring itself in a clear direction. The market continues to digest announcements from the major central banks while awaiting the US employment report.
The Paris Stock Exchange regains a little appetite for risk. At mid-session, the CAC 40 grabbed 0.4% to 7,372.07 points. The Paris index, however, remains down 1.6% over the week as a whole, for the time being.
Investors are eagerly awaiting the US employment report for April, which will be released at 2:30 p.m. Economists surveyed by the wall street journal are counting on job creations of 180,000 units and an unemployment rate of 3.6%, up slightly from the figure of 3.5% in March.
Market operators also continue to digest announcements from the US Federal Reserve (Fed) and the European Central Bank (ECB), which both raised their key rates by 25 basis points, or 0.25%.
Nexans supported by a historic contract
“The Fed seems well headed for a pause, while the ECB signals the need for further policy tightening. At the same time, the message that can be inferred from the two central banks is not necessarily clear and shrouded in uncertainty. Much will depend on future economic data. Overall, the smoke coming out of the announcements remains relatively grey,” notes Sebastian Paris Horvitz, of La Banque Postale Asset Management.
As for corporate publications, Air France-KLM lost 3.7%, after publishing a stronger operating loss than expected by analysts and lowering its capacity forecast for 2023.
Nexans won 4%, boosted by winning the largest contract in its history, worth 1.7 billion euros, with the electricity transmission network operator TenneT.
The renewed appetite for the market is also reflected in cheap buybacks on stocks that have suffered in recent sessions. This is the case for TF1 (+3.4%), M6 (+2.8%), Renault (+2.8%) and Publicis (+2%).
On other markets, the euro gained 0.15% against the dollar at 1.1029 dollars. Oil contracts are progressing sharply. The North Sea Brent contract for delivery in July is up 1.7% at 73.74 dollars a barrel, while the June contract on WTI listed in New York is up 1.7% at 69.70 dollars. the barrel.
Julien Marion – ©2023 BFM Bourse