The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange advances cautiously on Friday, before new data on inflation in the euro zone and on economic activity in Europe and the United States.
The star CAC 40 index advanced by 6.68 points to 7,934.11 points around 9:25 a.m., after the first exchanges of advantage in the green.
On Thursday, it fell by 0.34%, which did not prevent it from posting a strong increase (+3.54%) over the whole month of February.
Over the week, the CAC 40 remained stuck and fell 0.43%. “Logically enough, the market needed to breathe. But the underlying trend still remains bullish,” said Christopher Dembik, investment advisor at Pictet.
So far “recent inflation data confirms disinflation. Although it is not as rapid as central banks would like, the downward trend is well entrenched, and that is the key” , supports Natixis analysts.
Less than a week before the next meeting of the European Central Bank, investors will learn in the morning the inflation data for the euro zone in February, after having already learned the figures for France on Thursday, Germany and Spain.
In the United States, unsurprising inflation figures in January triggered a slight drop in interest rates and propelled the Nasdaq technology index to a new high, beating its previous record from November 2021.
In addition to inflation, several data on economic activity are also expected for the euro zone and the United States throughout the session.
Saint-Gobain is suffering from the economic situation
Saint-Gobain suffered from the new construction crisis in Europe last year, and announced declining results and turnover for 2023 after a record 2022.
The stock fell 1.52% to 70.12 euros, the worst performance on the CAC 40.
Vallourec continues its debt reduction
Vallourec, a cutting-edge metallurgist specializing in seamless tubes for the oil and gas industry, came out of the red in 2023 after its recovery plan and the closure of its German factories: it announced on Friday a net profit of 496 million euros for 2023 compared to a net loss of 366 million euros in 2022. The share fell 5.70% to 13.23 euros.
Valeo, stock market recovery on the rise
Valeo generated a net profit of 221 million euros in 2023, down 4% compared to 2022, while at the same time its turnover increased by 10% to 22 billion euros, according to results published Thursday. Its operating margin also increased, in line with its objectives.
The action gained 3.24% to 11.06 euros, which did not erase its difficult start to the year on the stock market (-20.63% in 2024) like all automotive equipment manufacturers.
© 2024 AFP
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