The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Bourse stagnated on Monday, a public holiday in France, where investors continued to digest the ambivalent US employment data published at the end of last week, pending new data on inflation in the United States and China.
At 10:38 a.m., the flagship CAC 40 index grabbed 0.13% to 7,442.36 points. The Parisian rating had taken up 1.26% on Friday to end a negative week in the end.
The job market in the United States rebounded unexpectedly in April, with job creations on the rise and the unemployment rate falling.
These figures are both positive, insofar as they confirm the resilience of the American economy, and at the same time a sign that the fight against high inflation in the United States is still far from over.
Investors are now waiting for the American consumer price index for April, which will be published on Wednesday, and producer prices in the United States on Thursday, to get an idea of the evolution of inflation and better anticipate the next monetary policy move by the US central bank (Fed). They will also follow China’s inflation figures on Thursday.
“On Wednesday, the latest US inflation numbers will be released and should give another indication of the need for further interest rate hikes by the Fed. Ahead of the weekend, the April labor market report was already going in this direction,” said Jürgen Molnar of RoboMarkets.
If inflation remains higher, the Federal Reserve could be tempted not to interrupt its cycle of rate hikes.
Economic activity on both sides of the Atlantic has begun to slow.
Industrial production fell in Germany in March, weighed down by the automotive sector, according to figures released on Monday.
It follows the bad signal from other German economic indicators published this month.
The data plunged “surprisingly”, according to Carsten Brzeski, analyst for ING direct, raising the chances of a “downward revision to growth in the first quarter”, he adds.
The German government expects growth of 0.4% for the whole of 2023.
OL Group suspended
The title OL Groupe was suspended on the Paris Stock Exchange after the appointment of the American John Textor as CEO to replace the emblematic president of Lyon, Jean-Michel Aulas. John Textor bought the Rhone club last December.
Extreme Nanobiotix
After a spectacular rebound (+157.83%) on Friday, the action of the biotech specialized in oncology Nanobiotix continued with great strides (+58.41% to 6.78 euros). The company, which has developed a formula based on nanoparticles to be injected into patients undergoing radiotherapy, said on Friday that it was in “final contract negotiations” with a “major global player in the pharmaceutical industry” for support the development and commercialization of NBTXR3 in head and neck cancer.
© 2023 AFP
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