(CercleFinance.com) – The Paris Stock Exchange ends the session with a loss of 0.26%, at 8167 points, penalized by the declines of Teleperformance (-2.8%), Kering (-2.7%) and Legrand (-2.3%) , in this so-called ‘three witches’ session.
The Parisian index thus lost nearly 0.6% over the past week but nevertheless preserved a gain of more than 8% since the start of the year.
The underperformance of the Paris stock market (blocked below the major resistance of 8250 points) contrasts this week – but also this month – with the surge in the US indices.
It must be said that profit-taking has increased since yesterday, as a week marked by relief around American inflation comes to an end.
After the sharp rise in May, investors are all the more tempted to play the cautious card as next week will be marked by Nvidia’s quarterly results.
Analysts expect better than expected performance from the processor manufacturer and an increase in its annual targets, as the Californian group is accustomed to.
Good news would undeniably confirm the good direction of technological stocks, in particular those which are positioned on artificial intelligence.
One of the most notable effects of the weaker-than-expected inflation figures released this week was the fall in US Treasury yields on Wednesday, in anticipation of increasingly likely monetary easing in the United States. .
But the trend is turning around this Friday in Europe: the 10-year yield on Treasuries rises slightly above 4.40% after falling yesterday to 4.32%, the lowest in more than a month, our OATs show +6Pts at 3.005%, Bunds are not better off with +6.2Pts at 2.5060 and Italian BTPs also show +6Pts at 3.8060%.
The final figures for inflation in the euro zone for the month of April, published at 11:00 a.m., were visibly disappointing. The zone’s annual inflation rate remained at 2.4% in April, stability compared to March also observed for the EU as a whole (at 2.6%), according to Eurostat which thus confirms his quick estimate.
Still on the statistics front, investors had confirmation that in the first quarter of 2024, the number of unemployed in France (excluding Mayotte) as defined by the International Labor Office (ILO) had increased very slightly, by 6,000, compared to in the previous quarter, to 2.3 million people, according to INSEE.
On the US indicators side, the Conference Board leading indicator index, expected to fall by 0.3% in April, fell more sharply than expected, by -0.6% to 101.8 according to the Conference Board, which sees this as a sign of a slowdown in the economy (the index had already fallen by 0.3% in March and analysts were expecting a more limited decline of around 0.3%).
The ConfBoard explains the deterioration of the index by the deterioration of consumer morale, the weakness of business order intake and the decline in building permits, but also by the correction of the stock markets in April.
One of the notable events of this Friday is the confirmed ‘breakout’ of silver above $29.3 (+3% to $30.50, ten-year record) and the return of the ounce gold beyond $2,400 (to $2,410), despite the deterioration of rates and the strengthening of the Dollar towards 1.0850/E (+0.15%).
In French company news, Eiffage and Entech announce an agreement to create a joint venture dedicated to the design, integration of storage systems, construction of the substation for connection to the high voltage network, management tools, and securing batteries.
Vinci announces that traffic on its motorway concessions decreased by 1.5% in April 2024 in annual comparison, a drop of 2.8% for light vehicles having been partly offset by an increase of 6.7% for heavy goods vehicles.
Clariane indicates that it is initiating capital increase operations for a maximum total amount of approximately 328 million euros, welcoming alongside Crédit Agricole Assurances, the HLD Europe Group as a new reference shareholder.
Finally, Stellantis today announced the appointments, effective June 1, of Christine Feuell as CEO of the Ram brand and Matt McAlear as CEO of the Dodge brand.
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