The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange moved forward on Wednesday (+0.29%), but remained tossed around according to changes in investors’ expectations on the probability that the American central bank will lower its key interest rates in the coming years. month.
The star CAC 40 index gained 23.18 points to finish at 8,153.23 points. On Tuesday, it lost 0.92%, its worst session since January 17.
The Parisian stock market spent the start of the session slightly in the green, before falling into the red with the new rise in rates on the bond market.
But the ISM indicator in the United States, which measures production in services, gave new momentum to the session.
From the point of view of investors, the publication was “a little better than expected because it showed a deflation in the price component” of services, good news with regard to the fight against inflation, underlines Sophie Chauvellier, manager at Dorval AM.
The measure of prices paid is even at its lowest level in four years.
The stock markets are a little more feverish at the beginning of April in particular because the latest economic indicators “called into question the pace of the rate cut by the American Central Bank”, with a first cut still hoped for in June by investors, underlines the manager.
This was still the case on Wednesday before the ISM because the ADP report on job creation in the private sector in the United States had shown “tensions on wages”, with fairly marked increases for new employees, explains -she.
The official monthly employment report on the US labor market is expected on Friday and will be the highlight of the week.
In Europe, investors received positive signals on inflation.
After unpleasant surprises for the first two months of the year, the rate of inflation in the euro zone fell to 2.4% year-on-year in March, thanks to less strong growth in food prices, a more marked decline than expected.
On the bond market, the session was also agitated: starting at 2.92% on Tuesday at the close, the interest rate on the 10-year French bond fell to 2.88% after inflation in the zone. euro. It then rose to 2.95%, close to its 2024 highs, after the report on job creation in the American private sector, to finish around 2.91%.
CMA CGM joins forces with Renault
The shipowner CMA CGM announced on Wednesday that it had taken a 10% share in Flexis, the electric van joint venture created with Renault (+1.22% to 48.08 euros) and Volvo, in which the Marseille group will invest. up to 120 million euros.
Stellantis slowed down in the United States
Sales of automobile manufacturer FCA US (Stellantis) fell by 10% in the first quarter, while its competitor Ford recorded growth above the expected average for the entire American market. The action fell 1.79% to 25.02 euros.
Nexity sheds weight
The leading French real estate developer Nexity announced on Tuesday that it had sold its personal services branch to the investment company Bridgepoint for 440 million euros. Its action rose 4.25% to 9.70 euros.
© 2024 AFP
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