The Paris Stock Exchange is up slightly in this first session of the second quarter after having shown, in the first, its most marked decline since the start of the health crisis, in March 2020. Investors are above all focused on the indicators of the day. The US economy created 431,000 jobs in the non-farm sector in March, against 490,000 anticipated by the consensus formed by Bloomberg.
The February balance was revised up to 750,000 from the previously reported 678,000. The jobless rate fell 0.2 points to 3.6%, while the average hourly wage rose 0.4% as expected. Over one year, the increase nevertheless reached 5.6%, against an estimated +5.5%. Nothing in the statistics should deflect the Fed from its plan to raise rates by 0.5% in May.
At 2:45 p.m., the Bedroom 40 takes 0.33% to 6,682.07 points in a business volume of 1.2 billion euros. The contracts future on American indices gained around 0.4%.
On the Old Continent, soaring prices accelerated in March, with the inflation rate reaching a new record of 7.5% over one year in the euro zone. ” If the medium-term inflation outlook remains as it is, we will end asset purchases in the third quarter, as expected, said Philip Lane, chief economist of the ECB, on CNBC on Friday. ” However, if the outlook deteriorates to the point of affecting inflation expectations, we will have to think again “, he specified. BNP Paribas, Agricultural credit and Societe Generale earn between 0.5% and 1.1%.
Regarding the war in Ukraine, discussions between Moscow and kyiv resumed by videoconference on Friday. Russian Foreign Minister Sergei Lavrov has indicated that Moscow is preparing a response to recent Ukrainian proposals to end hostilities.
Erratic moves on oil
Vladimir Putin on Thursday signed a decree stipulating that his European customers will now have to pay for their gas purchases in rubles from 1er April. However, it indicated that it would continue its deliveries at the price and in the volumes provided for in the current contracts, while reserving the possibility of interrupting them in the event of non-compliance with the new conditions. In Amsterdam, the price per megawatt hour of natural gas fell 2.7% to 122.49 euros.
On the oil front, the barrel of Brent from the North Sea fell by around 1% to 103.60 dollars after Washington confirmed its plan to draw around 1 million barrels per day from its strategic reserves for six months. starting in June. Observers doubt, however, that this decision will make it possible to permanently avoid a new surge in prices in the face of the risk of shortages linked to the war in Ukraine, especially since the symbolic increase in production by OPEC has hardly convinced, some even evoking a gag of 1er April. Main supporter of the Cac 40, TotalEnergies recovers 1.3%.
On the bond front, the yield curve remains under surveillance in the United States. The inversion of yields between short rates and long rates, considered as the signal that a recession is looming, seems to be confirmed. For the time being, the yield of the 10-year loan is traded at 2.4199% and that of the 2-year maturity at 2.4321%
Sodexo cautious for the current semester
Sodexo picks up nearly 8%. The collective catering and prepaid services group did slightly better than expected in the first half, but it is much less confident for the rest of the year. The pandemic, work and the war in Ukraine are among the reasons given for this caution.
Renault garners 2.6%. Sales of Renault Korea Motor, the South Korean subsidiary of the French group, rose 21% in March, boosted by solid exports. Renault-Samsung’s worldwide sales rose by 21.4%. In France, new car registrations fell by 19.5% last month. Those of the diamond mark contracted by 15.1%,
Sanofi gain 1%. The pharmaceutical group has announced that its active pharmaceutical ingredient subsidiary Euroapi will be listed on the Paris Stock Exchange on May 6 on the basis of a distribution parity of one Euroapi share for twenty-three Sanofi shares.