(CercleFinance.com) – After three days of stalling, the CAC40 concluded this last session of the week in green, despite many hesitations during the session.
In the end, the Parisian index arrogates 0.75%, to 7315 points, well helped by the banking sector with +6.1% for Crédit Agricole after its results (see below), +2.3% for Societe Generale and +1.5% for BNP Paribas.
Over the past week as a whole, the Paris stock market fell by 2.2% but has maintained a comfortable gain of almost 13% since the start of the year.
In recent sessions, equity markets had been penalized by a sudden resurgence of nervousness in the bond market, which translated into higher yields, making equities less attractive.
Highly anticipated, the report on employment in the United States, published at 2:30 p.m., finally appeared as a non-event, causing no notable reaction from the indices or the bond.
Contrary to the figures published by ADP the day before and which reported 325,000 new jobs, according to the NFP, the American economy will have generated only 187,000 non-agricultural jobs in July, according to the Department of Labor (DoL), a number lower than market expectations (Jefferies expected 235,000).
The unemployment rate fell by 0.1 point to 3.5% of the labor force, the labor force participation rate remained stable at 62.6% for the fifth month in a row, and income average hours increased at an annual rate of 4.4%.
In addition, job creations for the two previous months were revised downwards, from 306,000 to 281,000 for May and from 209,000 to 185,000 for June, ie a total revision balance of -49,000 for these two months.
Economists are counting on a slowdown in job creation in July, to 200,000 against 209,000 in April, but the ADP survey published on Wednesday turned out to be much better than expected, confirming the scenario of monetary tightening.
On the side of values, Amazon arrogates nearly 11% after having largely exceeded market expectations with its second quarter results, notably marked by a re-acceleration of growth in the ‘cloud’.
Apple, the world’s largest capitalization, fell 3% and broke the threshold of 3,000 billion in market valuation after a quarter characterized by disappointing iPhone sales.
In Europe, Crédit Agricole this morning reported higher quarterly results, driven by its universal banking model, which enabled it to absorb the consequences of an environment deemed to be ‘less buoyant’.
Underlying EPS (pro-forma IFRS 17) increased by 18.5% to 0.58 euro and underlying gross operating income increased by 30.3% to 3.13 billion, for the second quarter of 2023.
TotalEnergies and its partner SOCAR (State Oil Company of the Republic of Azerbaijan) announce that they have signed an agreement to sell a 15% stake each in the Absheron gas field, in Azerbaijan, to ADNOC (Abu Dhabi National Oil Company) .
Antin Infrastructure Partners announces for the first half of 2023, an underlying EPS almost doubled (+98.2%) to 0.35 euro, as well as an underlying EBITDA up 72.5% to 82.8 million euros, for revenues up 43.8% to 138.1 million.
Finally, Airbus announced on Friday that it had recorded 60 gross orders for aircraft in July and delivered 65 aircraft to 36 customers during the same month.
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