(CercleFinance.com) – After having evolved in red since Monday, the Paris stock exchange ends the week on a good note, with a gain of 1.24% this Friday, to 7319 points, notably driven by the rebound in luxury, with LVMH (+2.4%) and Hermès (+2.3%) in particular.
Despite this rebound, the Parisian index lost 2.5% over the week.
The markets are carried by a wind of optimism concerning the file of the ceiling of the US debt, whereas the Republican leader Kevin McCarthy assures that ‘the recovery will be done’.
The atmosphere is also heating up after the publication, at 2:30 p.m., of several major indicators, including that on ‘PCE’ inflation in the United States, which comes out at +0.4% and +4.7% at an annual rate (excluding food and energy), it was expected to be 0.1% weaker on an annualized basis and unchanged sequentially (instead of an increase).
Still on the statistical front, household consumption spending rose 0.8% in April compared to the previous month in the United States, according to the Commerce Department, a progression well above the consensus (+0, 4%), for revenue growth of 0.4%.
The Department of Commerce also announces a 1.1% increase in durable goods orders in the United States in April, after a rise of 3.3% in March (revised from an initial estimate which was 3.2% ).
However, excluding transportation equipment, US durable goods orders fell 0.2% in April.
Finally, operators took note of the UMich confidence index in the United States: it recovered by +1.5Pt towards 59.2 and exceeded expectations (58), which did not weigh down US T-Bonds any further. .
US T-Bonds climb only +3.3Pts to 3.844%, but mortgage rates flirt again with 7%
The OATs are still struggling: they take +4 Pts of return to 3.112%: we are approaching the worst levels of the year 2022 (December) and 2023 (early March) since the 3.25% are not very far away.
Unsurprisingly, the tension in rates weighed on gold, which fell almost -0.8% towards $1942/ounce.
In the securities news in Paris, Casino announces the opening of a conciliation procedure with its financial creditors, as well as the signing of a protocol with Les Mousquetaires to extend their partnerships and optimize their networks.
The credit insurance company Coface published Thursday evening a net result group share up 17% to 61.2 million euros for the first three months of the year, for a growing turnover by 11% to 475.1 million.
After suspending its industrial activities in Russia in March 2022, Michelin announces the signing of an agreement with Power International Tires, for the acquisition by the latter of its two local companies, Michelin Russia Tire Manufacturing Company and Camso CIS.
Atos announces that the United States Court of Appeals overturned a lower court ruling that found Syntel, now part of Atos, liable for $570 million in damages to be paid to TriZetto.
Finally, Airbus announces that ITA Airways, the Italian national airline, has taken delivery of its first A330-900, on lease from Air Lease Corporation. It will join its fleet in June to serve new long-haul destinations.
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