The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended down 0.26% on Friday, blowing at the end of a week marked by the deceleration of American inflation.
The flagship CAC 40 index dropped 20.99 points to 8,167.50 points. Over the week, the CAC 40 posted a loss of 0.63%, contrasting with the previous week, where the index posted a weekly jump of more than 3%.
“The central element” of the week was the publication on Wednesday of American inflation (CPI) which fell slightly in April, notes Lucas Excoffier, in charge of continental brokerage at Oddo BHF.
This deceleration allowed Paris to end with a record closing, just like other indices, driven by the hope of a first cut in key rates from the American central bank in September.
However, “after historic highs it is normal to have a correction afterwards,” explained Lucas Excoffier.
In addition, no major indicator was on the program, nor were there any results from large companies, with the results season coming to an end.
If there was the publication of inflation in the euro zone, it was however “unsurprising and had no significant impact on the markets”, estimates Lucas Excoffier.
In detail, in the euro zone, inflation in April was confirmed at 2.7% over one year by final data from Eurostat, approaching the 2% target of the European Central Bank (ECB).
Disappointing score
The reinsurer Scor saw its net profit fall by 37% year-on-year in the first quarter, to 196 million euros, and announced on Friday a strengthening of its sustainable development strategy during its general meeting. The stock lost 6.09% to 30.22 euros.
Carmat unscrewed
Carmat, specialized in the production of artificial hearts, fell 22.53% to 3.10 euros, after announcing a fundraising of around 16 million euros “via the issue of new shares at a price fixed rate of 3 euros per share”, according to a press release published Thursday evening, an amount considered too low by the market.
“Based on our achievements at the start of the year, we are confident of a substantial gradual increase in our sales over the coming months, reaching a turnover of around €14 million in 2024,” declared Stéphane Piat, general director of the group.
Ubisoft took a breath
Following a fall of more than 13%, the title of video game publisher Ubisoft gained 5.45% to 21.29 euros on Friday. Since January 1, however, the stock has lost nearly 8% of its value.
Although the group announced on Thursday that it had become profitable again at the end of the 2023-2024 financial year, the market then sanctioned the outlook presented, deemed disappointing.
© 2024 AFP
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