(BFM Bourse) – The CAC 40 lost ground mid-session this Friday, while retail sales slowed in April in China.
The Paris Stock Exchange is preparing to end the week on a bad note. The CAC 40 lost 0.32% at mid-session this Friday to 8,161.88 points.
Chinese data weighs on the trend. In April, industrial production increased by 6.7% over one year but 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.
“Aside from the prospect of new U.S. tariffs on Chinese goods, poor data on China’s home sales and consumption provided investors with a valid reason to take some of this week’s profits, leading benchmark indexes to fall back towards freshly established floors”, explains Pierre Veyret, analyst at ActivTrades.
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“However, it is still too early to speak of a bearish reversal on riskier assets, as this week’s bullish momentum triggered by the prospect of falling inflation and tightening of the stock market employment in the United States should remain difficult to compensate,” he continues.
On the value side, Engie suffered one of the most pronounced declines in the CAC 40 (-1.7%) after reporting slightly lower results in the first quarter, with in particular a somewhat weak dynamic in gas distribution. .
Carmat falls by 25% 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 rose 2.8% 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.
Note that in Zurich, the luxury group Richemont is up more than 5% thanks to its annual results.
On other markets, the euro fell 0.2% against the dollar to 1.0843 dollars. Oil is grabbing ground. The July North Sea Brent contract gained 0.3% to $83.46 per barrel, while the June WTI contract gained 0.2% to $79.41 per barrel.
Julien Marion – ©2024 BFM Bourse