(CercleFinance.com) – The Paris Stock Exchange is gravitating towards its equilibrium point this morning around 8150 points, despite the 4.3% fall in Carrefour.
Investors remaining cautious before the publication of two indicators on the United States economy.
This afternoon, the market will take note of the figures for orders for durable goods and then consumer confidence from the Conference Board, which will give a first glimpse of the morale of American households.
Other important indicators will follow, such as the latest estimate of fourth-quarter US GDP expected on Thursday, but the highlight of the week will be the February household income and spending statistics.
This publication, whose price component is the measure of inflation favored by the Federal Reserve, will make it possible to refine forecasts in view of the Fed’s next decisions.
The mood could nevertheless be on pause as the long Easter weekend approaches and the end of the first quarter, which resulted in the simultaneous achievement of closing records on all the major world markets.
In the meantime, investors learned this morning of France’s public deficit for the whole of 2023. This stands at 154 billion euros, or 5.5% of gross domestic product (GDP ), after 4.8% in 2022 and 6.6% in 2021, according to data revealed this morning by INSEE.
Revenues grew by only 2% last year (after +7.4% in 2022), as the rate of compulsory deductions fell to 43.5% of GDP, while spending increased by 3.7% (after +4% in 2022).
The recent rise in indices has revived doubts among some investors about the valuation levels of shares which some analysts describe as ‘overvalued’, or even consistent with the creation of a ‘bubble’.
‘From a stock market point of view, it will certainly take a breather in the short term after the significant gains of this first quarter,’ judges Christopher Dembik, investment strategy advisor at Pictet.
Since January 1, the Parisian index has increased by more than 8%.
“We can note that the CAC 40 is almost on par with the S&P 500 in terms of performance,” continues Christopher Dembik. ‘It’s rare enough to mention it,’ concludes the strategist.
In French company news, Air France-KLM announces that it has repaid, at the request of bond holders, approximately 452 million euros out of the 500 million bonds convertible into new shares and/or exchangeable into existing shares ( OCEANE) whose maturity is March 25, 2026.
TotalEnergies announces that it has entered into a memorandum of understanding with China Petroleum and Chemical Corporation (SINOPEC) to jointly develop a sustainable aviation fuel (SAF) production unit within a SINOPEC refinery in China.
Edenred announces the signing of a partnership with IP Gruppo api, an Italian fuel and mobility solutions group, from which it will acquire its entire energy card business, which has a portfolio of around 50,000 B2B customers.
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