(CercleFinance.com) – The Paris Stock Exchange gained 0.99%, to 8,075 points, driven by EssilorLuxottica which gained 3.2% ahead of Pernod Ricard (+3.1%) and STMicro (+2.9%) .
The banking sector is not left out with +2.5% for Société Générale, +2% for Bnp Paribas and +1.8% for Crédit Agricole.
Across the Atlantic, US T-Bonds erase -6 Points of yield towards 4.426%, the ‘2 years’ on the other hand stagnates towards 4.81% (-1.2 Points), which means that the inversion of the curve is worsens (technical warning sign of economic slowdown).
Debts denominated in Euro also erase -5.6 Pts with OATs at 2.926% and Bunds at 2.42%… Italian BTPs only erase -3.5 Pts towards 3.77%.
On the eve of the public holidays (Armistice and Ascension) and in the absence of leading economic indicators, some strategists are starting to worry about the great dependence of stock markets on the performance of technological mega-caps.
‘The equity markets are highly concentrated, focused on the ‘Magnificent Seven’ (31% of the Nasdaq ‘capi’), with a significant dispersion of performances at the security level,’ underlines Nanette Hechler-Fayd’herbe, analyst at Lombard Odier.
‘Historically, such high levels of concentration have often been followed by a reversion to the mean, against a backdrop of stock market correction,’ she warns.
On the statistics front, seasonally adjusted retail sales volume increased by 0.8% in March in the eurozone and by 1.2% in the EU, compared to February 2024, according to estimates from Eurostat, the statistical office of the European Union.
In France, France’s trade balance improved slightly in March, according to CVS-CJO data from the customs administration, the deficit having thus been reduced to 5.47 billion euros after 5, 61 billion in February.
This timid improvement reflects a 2.9% increase in French exports from one month to the next, to more than 52.2 billion euros, while imports increased at the same time by less than 2.4%, to 57.7 billion.
The barrel of ‘Brent’ oil continues its consolidation (-0.7%) towards $83 while the euro remains stable against the greenback, at $1.076/E and gold gains 0.5%, around $2,314 per ounce.
In news from French companies, Arkema reveals current net income down 14.8% to 138 million euros for the first quarter of 2024, or 1.84 euros per share, as well as an EBITDA down by 4.6% to 350 million, i.e. an EBITDA margin up slightly by 0.5 points to 15%.
Bouygues publishes a net profit group share of -146 million euros for the first quarter of 2024, a loss widened by 12 million over one year, but a current operating result from activities (ROCA) of 26 million euros, improving of 17 million.
On the occasion of Xi Jinping’s state visit to France, TotalEnergies announces the signing with the Chinese energy group Sinopec of a strategic cooperation agreement aimed at deepening their collaboration, particularly in low-carbon energies.
Suez announced the signing of three strategic agreements on ecological transition with its Chinese partners Envision, Chongqing Sanfeng Environment and Dongguan Water Group.
Airbus announces that it has finalized the acquisition of the American company Aerovel and its Flexrotor, a small tactical unmanned aerial system (UAS) designed for intelligence, surveillance, target acquisition and reconnaissance (ISTAR) missions.
Finally, Clariane announces having received a promise to purchase from the Fondation Santé Service and granted exclusivity with a view to the sale of its Hospital activities.
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