Euronext headquarters in La Defense (AFP/ERIC PIERMONT)
The Paris Stock Exchange finished slightly higher on Thursday but gave back most of its gains from early in the session after new signals showing weakness in the economies of France and Germany.
The flagship CAC 40 index ended up 0.22% at 8,179.72 points. At the start of the session, he set a new record at 8,229.25 points. On Wednesday, it fell 0.48% after the fall of Kering shares. The French luxury group warned on Tuesday that its turnover would drop “in the order of 10%” in the first quarter year-on-year.
The start of the session with a sharp increase on Thursday, in the wake of the performance of the American markets on Wednesday, was called into question after the publication of the PMI activity indicators for the euro zone countries in March.
While the aggregate figures are as expected, the data for the eurozone’s two largest economies, Germany and France, were worse than expected. “The trend is far from encouraging for the future,” commented Norman Liebke, economist for the Hamburg Commercial Bank (HCOB), quoted in the press release from S&P Global, which carried out the study.
Today’s economic data in the United States continued to show that the fight against inflation is not over, believes Anne Beaudu, bond manager at Amundi.
However, “persistent inflationary tensions” constitute “the market’s concern since the start of the year,” she describes.
On Wednesday, the president of the American central bank (the Fed) Jerome Powell was “reassuring” about the institution’s desire to lower its key rates in 2024, but the Fed revised its inflation forecast upwards. and rate level in 2025 and 2026, recalls Ms. Beaudu.
The American central bank raised its rates 11 times between March 2022 and July 2023 to try to curb inflation.
Worldline reviews its governance
The French payment specialist Worldline (+4.03% to 10.46 euros) announced Thursday the arrival of Wilfried Verstraete to its board of directors before submitting his nomination for the position of president to the general meeting of the group, which experienced a dark year in 2023.
ADP will separate from its CEO after the Olympics
Aéroports de Paris for its part gained 0.65% to 124.40 euros.
Matignon announced on Wednesday that ADP CEO Augustin de Romanet will remain in his position until the Paris Olympic and Paralympic Games but not beyond.
© 2024 AFP
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