The Paris Stock Exchange rose 0.25% on Friday, during a session punctuated by corporate results in a context of disappointing statistics for the European economy.
The star index CAC 40 took 15.71 points, 6,212.82 points. Since the beginning of the week, the Paris market has gained 3%, its third week in a row on the rise.
In the euro zone, economic activity contracted in July for the first time since February 2021, according to the S&P Global composite PMI index.
It is in Germany that the decline in activity is the most marked, while in France, it has almost stagnated.
In France, the government expects a slowdown in the economy next year, with growth expected at 1.4%, after 2.5% in 2022.
Other news of the day, inflation, which weighs on economic activity, should remain above 2% in the long term, according to a survey published by the European Central Bank (ECB).
The day before, the institution had announced to raise its three key rates by 50 basis points.
The European markets seem to have dismissed these worrying signals that point in the direction of a slowdown in the economy towards recession, observes Michael Hewson, analyst at CMC Markets.
Investors digested the announcements of the ECB, which also presented details on the new instrument intended to protect the most fragile states against speculative attacks on their debt.
This tool does not seem to have convinced the markets, according to Christopher Dembik of Saxo Bank, who believes that the interpretation that is very clearly beginning to be made of it is that the Institution has decided to have a tool that it can trigger depending on his goodwill, which remains a factor of indecision for investors.
Concerns about Ubisoft
French video game publisher Ubisoft announced a 9.8% drop in sales in the first quarter of its 2022-2023 financial year, as well as a postponement to 2023-24 of the release of the highly anticipated game Avatar, drawn from James Cameron’s film. Its action lost 1.34% 41.10 euros
Maurel & Prom doubles its revenue
The French hydrocarbon producer saw its revenues almost double in the first half, thanks to soaring prices. Its course took 3.99% 4.44 euros per share.
The Total Energies giant ended up 1.37%, 48.54 euros per share.
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Gecina thinks bigger
The real estate company specializing in office real estate has announced that it is revising its results targets for the year 2022 upwards, despite a slight decline in the first quarter.
The share price rose 6.75% to 98.80 euros per share, consolidating a weekly rise of 10.08%. The group has remained in the red since January 1 (-19.61%).
Compagnie des Alpes on the rise
Compagnie des Alpes saw its turnover increase by 22% in the third quarter of its delayed financial year compared to the same period before the Covid-19 pandemic and confirms that it expects higher sales for its entire 2021-2022 financial year. those before the pandemic.
At the end of the session, it closed up 3.48%, 16.06 euros. It has posted a gain of 16.38% since January 1.