The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended sharply down 0.86% on Tuesday, erasing its rebound from the day before as the publication of an inflation index in the United States approaches, expected on Wednesday, then a meeting of the European Central Bank (ECB) scheduled for Thursday.
The flagship CAC 40 index fell 70.13 points on Tuesday, ending at 8,049.17 points, its lowest closing level since March 11. The day before, it had gained 0.72%.
The Parisian rating had already experienced its worst weekly performance since October last week (-1.76%). On Tuesday, it started its session in the red and this trend was reinforced after the opening of the American markets, which also quickly fell into the negative.
“Questions about the possibility that the American central bank (the Fed, Editor’s note) will lower its rates in June explain the nervousness of the markets, both on stocks and bonds,” indicated Nathalie Benatia, macroeconomist at Bnp Paribas AM.
After approaching several-month highs on Monday, the French 10-year interest rate fell to around 2.86%, compared to 2.92% at the previous close.
The numerous signals of solidity in the American economy may encourage the Fed to wait before starting to loosen the screw and lower its key rates, especially since the start of the year, American inflation has been rising. tenacious than expected.
The CPI price indicator for March will therefore be scrutinized on Wednesday.
In the euro zone, the situation is different and “it is difficult not to justify a rate cut in June”, according to Ms Benatia. However, if the American central bank is required to significantly postpone its first rate cut, this could influence the Frankfurt institution according to this macroeconomist.
Concerning the ECB meeting on Thursday, investors do not expect much from the European monetary institution, already looking towards June.
“We can’t get out of these discussions” on monetary policy, observes Ms. Benatia, even if the first results of the first quarter of companies are looming, with those of American banks on Friday, or LVMH and L’Oréal next week in Paris .
A sign of their prudence, investors preferred to abandon companies that had already made significant progress this year. Conversely, five of the six best performances of the day in the CAC 40 index are those of companies whose price is lower than their level on January 1.
Air hole for Thales
The action of the defense and aeronautics company Thales fell by 4.89%, to 154.60 euros, in unison with the defense sector in Europe after the publication of two analyst notes emphasizing that this sector has reached high valuation levels and that it may have reached a ceiling.
Dassault Systèmes also lost 3.52% to 202.60 euros, Airbus fell by 3.44% to 164.88 euros and Safran by 2.12% to 203.60 euros.
Atos seeks 1.2 billion euros
Heavily indebted, the French IT group Atos, which presented its refinancing framework to its creditors on Monday, is looking for 1.2 billion euros and plans to convert almost half of its debt into shares, he announced Tuesday before the opening of the Paris Stock Exchange.
Creditors’ proposals, based on “its entire scope of activity” – that is to say without dismantling the company – are expected by April 26, the group said.
Its stock fell 13.64% to 1.99 euros on Tuesday, erasing almost all the gains from its rebound the day before. Since the start of the year, the stock has lost more than 71% of its value.
BioMérieux exceeds expectations
The French specialist in the detection of infectious diseases bioMérieux posted an increase of 6.6% in its turnover in the first quarter, higher than expectations, and unveiled on Tuesday a strategic plan until 2028.
Investors applauded: the group’s stock jumped 8.59% to 106.20 euros.
© 2024 AFP
Did you like this article ? Share it with your friends using the buttons below.
