(CercleFinance.com) – The Paris Stock Exchange has been keeping pace since 4 p.m.: buyers are masters of the game and the CAC40 is flirting with its highs of the day (+0.6% to 7430).
The CAC40 ended the week with an overall gain of 0.65% and the stock market for July with a symbolic advance of 0.5% (it was this session of the ‘3 witches’ that made the difference in weekly and monthly terms).
The CAC40 has come to test the upper part of its medium-term bearish channel, located above 7430 points, an obstacle to be cleared in order to hope to continue to reconnect with the peaks.
Note the extreme weakness of volumes on the CAC 30 minutes from the close with barely 1.6 billion euros traded, despite the monthly deadline of the day.
The Euro-Stoxx50 is content with half with +0.3% to 4.387, a difference comparable to that posted by Wall Street (identical score on the ‘Dow’ and the ‘S&P’), the day after a big air pocket in the semiconductor compartment (the SOXX unscrewed by -3.6%).
The month of July ended with a nice rise in the main US indices (+2.5 to +3%) and the Dow Jones (+0.3%) managed the feat of aligning a 10th consecutive rising session (the S&P500 is at 9 out of 10), i.e. a 2-week bullish funicular that is difficult to explain given the context and the level of indebtedness of the United States, households and businesses.
The day was poor in ‘macro’ figures but the quarterly results will continue to rain today with the accounts of American Express and SLB in particular, but it will be necessary to wait for the announcements of GAFAM, next week, to see a real trend taking shape.
Market participants are showing some caution due to the deadline for the US Federal Reserve meeting, which will be held next Tuesday and Wednesday.
On the foreign exchange market, the dollar index, which measures the evolution of the greenback against several major international currencies, is stabilizing after recovering its health yesterday: it grabs +0.1% and tries to hang on 101 (the Euro crumbles by -0.1% towards 1.114.
Slight relaxation on bonds with -3pts on our OATs (3.98%) and Bunds (2.45%)
In the news of French companies, Renault Group announces that as of July 20, Philippe Krief will succeed Laurent Rossi as CEO of the Alpine brand.
Air Liquide announces that it is investing nearly $200 million in two new advanced materials production centers in Taiwan and South Korea.
APRR’s consolidated revenue excluding Construction amounted to €1,454.1 million in the 1st half of 2023, up 7.8% (€1,348.3 million in the 1st half of 2022).
T-Bonds eased by -3.5 Pts to 3.818%… almost stable on a weekly basis.
Thales publishes for its first half of 2023 an adjusted net income group share per share up 15% to 3.91 euros, and an EBIT of 993 million euros, or 11.4% of turnover, against a margin of 10.8% a year earlier.
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