(CercleFinance.com) – Indifferent to the deluge of records on Wall Street, the Paris Stock Exchange lost -0.24% to 7,647 points, despite the +4.8% of Hermès, notably penalized by L’Oréal (-7.6 %) and Bnp Paribas (-2%).
The Parisian index nevertheless gained a timid 0.7% over the past week.
The underperformance of Paris is obvious while across the Atlantic, the three main US indices smash new absolute records.
The week which is ending has underlined the significant disparities in global growth, with the American economy displaying excellent health, far ahead of Europe and China which have a tendency, at best, to stagnate.
It is not even certain that the FED will ‘pivot’ next May if the labor market remains at its peak (wage rise in sight) and if inflation resurfaces, after having calmed down at the end of 2023, thanks to very positive ‘basic effects’.
Macroeconomic conditions should further influence the markets next week, with the latest inflation figures in the United States, then those of fourth-quarter growth in the euro zone.
In the meantime, the stock markets continue to ignore the tensions on the interest rate market, with the most optimistic seeing it as proof of the robustness of the American economy.
The yield on T-Bonds continues to soar with a yield reaching 4.20% over 10 years (+4Pts), the highest since the start of the year. In Germany, the Bund with the same maturity is approaching 2.385% (+2.5 points).
Brent is stable around $81.6 per barrel, while the euro remains stable against the greenback, at $1.077/E.
In French company news, Hermès International published this morning a group share of net income up 28% to 4.31 billion euros for 2023, as well as current operating income up 20%. to 5.65 billion, a record margin of 42.1% against 40.5% in 2022.
For 2023, Assystem’s turnover is up 17% to 577.5 million euros, including +14.6% organically. Excluding Pacific activities sold in December 2023, turnover stands at 563.7 million (for an annual target of around 570 million).
Casino indicates that in accordance with the protocol of intentions concluded on January 24, Carrefour replaced Groupement Les Mousquetaires for the acquisition of certain Casino hypermarkets and supermarkets initially to be acquired by the latter.
Canal+, a subsidiary of the Vivendi group, announced on Friday that it had strengthened its position as the main shareholder of Viaplay (from 12% to 29.3%) following the finalization of the recapitalization plan of the Swedish video streaming group.
Finally, Guerbet posts an annual turnover of 785.7 million euros, up 4.3% in published data. At constant exchange rates and excluding Intrasense, consolidated since January 1, its organic growth stands at 5.9%.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
