(CercleFinance.com) – After gaining up to 0.5% at midday, the Paris Stock Exchange ended the session with a more anecdotal gain of 0.13%, to 8102 points, shared between the good performances of CapGemini (+2.7%) and Publicis (+1.9%) and the declines of Eurofins Scientific (-3.6%) and Teleperformance (-2.8%).
The Parisian index reversed course in the wake of the US indices which opened with new absolute records (the 26th for the S&P500 at 5,340) before falling back into the red.
The Dow Jones lost between -0.7 and -0.8%, the ‘S&P’ gained 0.1% behind the Nasdaq (+0.6%) which benefited from the performance of Nvidia which gained almost +10% towards 1,045 $, or +$230 billion in additional capitalization (at $2,600 billion, or 25 times its turnover)
The American giant Nvidia, which is consolidating its status as the third largest capitalization in the world behind Microsoft, is now hot on the heels of Apple ($2,928 billion in ‘capi’) should show a +100% increase since the start of the year if the title remains above the $1000 at closing.
Nvidia weighs as much as all the multinationals making up the DAX40 index (the German economy is €4.008 billion in GDP), or as much as Amazon + Tesla (which achieve significantly higher turnover).
‘Nvidia did not disappoint when publishing its quarterly results,’ this is good news,’ underlines Christopher Dembik, investment strategy advisor at Pictet Asset Management.
‘It’s been a long time since the global economy has been so dependent on a single company,’ recalls the analyst (Nvidia is quite simply +$1.325 billion in ‘capi’ more since January 1, this is 90% of the performance of the S&P500).
‘For the stock markets, Nvidia should continue to be essential this year, and probably in the years to come,’ he adds.
Nvidia’s performance has pushed into the background the concerns arising from the minutes of the last meeting of the Federal Reserve, which contained some unpleasant surprises: dissensions on strategy, feeling that the problem of inflation is far from over. to be determined.
According to the CME Group’s FedWatch barometer, the probability of a rate hike in September is now estimated below 50%, compared to 51.6% yesterday.
In terms of US figures, growth in the American private sector accelerated sharply in May, according to the S&P Global composite PMI index which stood at 54.4 in flash estimate, a 25-month high, compared to 51.3 in data. final for the previous month.
S&P Global specifies that the ‘services’ sector is driving this progression, recording the strongest growth in its production in a year, but that the manufacturing sector is also showing more vigorous growth.
A downside all the same with sales of new homes which fell by 4.7% in the United States in April (sales fell by 7.7% at an annual rate), according to statistics published Thursday by the Department of Commerce.
These stood at 634,000 last month on an annualized, seasonally adjusted basis, compared to 665,000 (revised figure) in March.
The median price of new homes reached $433,500 in April, compared to $439,500 the previous month and their average level $505,700, below the $527,400 in March.
Finally, the Department of Labor announces having recorded a drop of -8,000 (to 215,000) in new registrations for unemployment benefits in the United States.
The four-week moving average – more representative of the underlying trend – stood at 219,750, an anecdotal increase of 1750 compared to the previous week.
In the bond compartment, the yield on ten-year Treasuries tends by +6.5 points towards 4.50%, its worst level of the week.
In Europe, the deterioration observed the day before continues with +7 basis points on our OATs at 3.097% as well as on Italian BTPs at 3.904% and +7.3 points on Bunds at 2.6070%.
In Europe, the HCOB composite flash PMI index of overall activity in the euro zone recovered from 51.7 in April to 52.3 in May, signaling a third consecutive monthly increase in sector activity levels private of the region.
In France, the HCOB composite flash PMI index of overall activity fell for the first time since the start of the year, falling from 50.5 in April to 49.1 in May, and thus returning in a contraction zone after a brief return to growth.
The Dollar weakened this Thursday and lost its gains from the day before (-0.3% against the Euro around 1.0860$/E).
The tension in rates penalizes Gold, which digests its recent records and settles around $2,345, which corresponds to its levels of May 15.
In French company news, Stellantis announced on Thursday the launch of the second tranche of its share buyback program for 2024, up to a maximum amount of one billion euros.
The Mauritian Prime Minister’s office has entrusted the consortium led by Thales with the establishment of a national identity system. This project aims to improve the services offered to citizens and strengthen the security of their identity.
Lagardère announces the appointment of Grégoire Castaing as deputy general manager (DGA) of the group in charge of finances and member of the executive committee, with effect from June 3.
Airbus UpNext, an Airbus subsidiary, has launched Cryoprop, a new technology demonstrator to develop superconducting technologies for the electric propulsion systems of future hydrogen aircraft.
Thales announces the renewal of its military reserve support agreement, thus reaffirming its commitment to the French military reserve and the armed forces in general, having increased the number of reservist employees six-fold since 2006.
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