(CercleFinance.com) – Paris (+0.1%) is back in the green, but that will not be enough to end the week with a weekly gain (we would need to gain 0.5% more and return to opening levels , or 7,960 Points).
But the CAC40 represents an exception because this month of March begins with a new festival of absolute records: what better way to end the week and start a new calendar month?
Investors do not seem to be satisfied with the rise (18th week of progression for stocks since October 31 in Europe, Japan, United States) and this Friday gives rise to a fireworks display of records (DAX40, Euro-Stoxx50, S&P500, Nasdaq Comp., Nasdaq-100, Nikkei, etc.).
The week will end with an upward 5/5 for the E-Stoxx50 (+0.4% to 4,995, but it crossed 4,900 this morning), and a gain of +0.5% for the Nasdaq (16,180… and more than 18,160 for the Nasdaq-100 with +0.7%).
Note that the day started well, with the Nikkei soaring +2.1% weekly, to reach 40,000 points, or 1,000 points more than its previous record of 38,900 recorded 34 years ago.
This morning, investors took note of various statistics such as the HCOB PMI index for the Eurozone manufacturing industry, produced by S&P Global, which stood at 46.5 in February, relatively stable. compared to the ten-month high recorded in January (46.6).
In France, the HCOB PMI index for the manufacturing industry, produced by S&P Global, recovered from 43.1 in January to 47.1 in February, its highest level since March 2023, and therefore highlights evidence of a sharp slowdown in the contraction of the sector.
On the bond market, the attempt at a rebound on Thursday and at the start of the morning was cut short with OATs rising by +1 points towards 2.8830% and Bunds at a standstill at around 2.400% (compared to 2.4050 the day before) .
The T-Bonds, on the other hand, relaxed by -5Pts towards 4.202% and signed a good week with a gap of -4Pts… which comes down to today’s improvement (which takes the week from red to green).
This ‘late’ relaxation is to be linked – it is quite logical – to the poor manufacturing ISM as well as the fall in the consumer confidence index of the University of Michigan.
Activity in the US manufacturing sector contracted for the 16th month in a row in February, according to the monthly survey released Friday by the Institute for Supply Management (ISM).
The ISM manufacturing index fell to 47.8 last month, compared to 49.1 in January (and 49.5 expected).
The new orders sub-index fell by 3.3 points to fall below the critical threshold of 50 points, to 49.2 against 52.5 the previous month.
The component measuring production also fell into the contraction zone, at 48.4 in February after 50.4, while that of paid prices remains high, at 52.5 against 52.9 in January.
American consumer confidence deteriorated sharply in February, according to the index calculated by the University of Michigan which ultimately came out at 76.9, whereas it had stood at 79.6 in preliminary estimates and afterwards. 79 for the previous month.
The Dollar is relatively little impacted and loses 0.25%, the Euro thus rises towards 1.0835.
The relaxation of rates, on the other hand, boosts Gold, which soars by +1.7% towards $2,070 and emerges as the big winner of the week… it is true that the geopolitical climate is tense, with an escalation of martial declarations of the part of France and Russia.
Note that oil is also trying to raise major resistance, Brent testing the decisive level of $83.7, WTI erases the resistance of $78.5 and climbs +2.5% towards $80.
In the news of French companies, at the end of the 2024 edition of the Heli-Expo show in Anaheim, California, Airbus Helicopters claims 155 commitments made, including 40 firm orders, from customers around the world for a variety of its multi-mission helicopters.
Maurel & Prom publishes for the past year a net income group share (RNPG) up 3% to 210 million dollars, despite an EBITDA down 19% to 359 million for a turnover almost stable (+1%) at 682 million.
Vallourec publishes EPS of 2.07 euros for 2023, compared to -1.60 euros the previous year, as well as EBITDA up 67% to nearly 1.2 billion euros, above the limit high of its previously communicated range.
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