(CercleFinance.com) – The Paris Bourse ends the session with a modest gain of 0.27%, at 7,222 points, notably driven by Alstom (+2.6%), Stellantis (+1.5%) and Michelin (+1.5%) in relatively limited volumes, with less than 2.4 billion euros traded since the opening.
On the statistical front, figures from the US Department of Labor show a jump of 28,000 in the number of unemployment benefit claims during the week of May 29, which stood at 261,000 against 233,000. the previous week (revised figure from 232,000).
The report states that this is the highest number of new weekly registrations since the week of October 30, 2021, which saw 264,000 new registrations.
In addition, the four-week moving average – considered a better indicator of the underlying trend in the job market – shows an increase in the number of registrations of 7,500 from one week to the next, to 237,250. .
In addition, investors were able to take note of a slight contraction of the euro zone economy in the first quarter, with a decline in GDP adjusted for seasonal variations of 0.1%, according to an estimate by the statistical office of the European Union.
By way of comparison, analysts were counting on the stability of GDP (0%).
Knowing that GDP had already decreased by 0.1% in the fourth quarter of 22, the region is therefore in a situation of ‘technical recession’, characterized by two consecutive negative quarters
Moreover, while the markets had to deal yesterday with the rise in government bond yields, 10-year US Treasury bonds fell a little, from 3.783% to 3.75%.
The trend is the same in Europe where the German ten-year fell -3pts to 2.413%, while the French OAT of the same maturity fell 3.5pts to 2.9640%.
On the foreign exchange market, the euro continues its recovery (+0.7%) against the dollar, around $1.0778, traders expecting the aggressive policy led by the ECB to continue to support the currency European.
On the energy side, oil prices are settling, Saudi Arabia’s decision to cut production from July has not really stemmed the fall in oil prices.
The price of a barrel of American light crude oil (West Texas Intermediate, WTI) fell 1.8%, towards $71; and that of Brent lost almost 2%, towards $75.3.
“This phenomenon of falling oil prices, while production continues to decline, could at some point raise fears about global demand and therefore the strength of the economy,” said Vincent Boy, market analyst at IG France. , in its latest weekly update.
In the news of French companies, Societe Generale announces that it has signed agreements for the sale of its subsidiaries in Congo and Equatorial Guinea to the Vista Group, and of its subsidiaries in Mauritania and Chad to the Coris Group.
Aelis Farma announces the publication of a series of studies on AEF0117, its first drug candidate dedicated to the treatment of disorders related to excessive cannabis consumption (addiction and psychosis). In the trial, AEF0117 caused a statistically significant reduction in the subjective and reinforcing positive effects of cannabis, the laboratory points out.
The State implemented today the compulsory withdrawal procedure for EDF capital securities. The State now holds all of EDF’s capital and voting rights, a way of enshrining the fully sovereign character of nuclear electricity production activities.
Finally, Worldline announces that it has built and operated ‘the first positive toll solution in France for the European Metropolis of Lille (MEL)’. The idea of the device is to be able to ‘significantly reduce road traffic’ by paying motorists a bonus per journey avoided by car.
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