The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange advanced slightly (+0.04%) in early trading on Wednesday, with investors remaining cautious ahead of a series of macroeconomic indicators, including growth and inflation in the United States, the world’s leading economic power.
The flagship CAC 40 index gained 3.10 points to 7,951.50 points around 9:55 a.m. On Tuesday, it advanced 18.58 points to 7,948.40 points after breaking a series of eight consecutive increases on Monday, including seven at the close.
The markets are “now taking the time to reflect on the extent of their progress since the start of the year”, after a series of records broken the previous week, comments Florian Ielpo, economist at Lombard Odier AM.
The corporate results season, which is coming to an end soon, “was the driving force behind this performance” and now leaves more room for the macroeconomy, with the publication of several expected indicators.
Market observers will turn their attention on Wednesday to the publication of the second estimate of US GDP for the fourth quarter. Then on Thursday, will come the turn of the January PCE inflation index, an indicator scrutinized by the American Federal Reserve (Fed) to guide its monetary policy.
“Thursday’s PCE index figures should show that disinflation is not a straight line. At best, we can expect a figure in line,” said Florian Ielpo.
“A positive surprise” would not be “fatal to the market”, adds the economist who explains that “this inflation is a sign of good economic health unlike that of 2022”.
Casino in struggle
The Casino group has published a spectacular net loss of 5.7 billion euros in 2023, attributable in particular to the great difficulties of its hypermarkets and supermarkets which it has since sold largely to competitors.
Its action fell 18.53% to 58 cents.
Worldline plummets
The payment specialist saw its stock fall 10.98% to 10.90 euros, dropping up to 16.95% in early trading, after announcing a net loss of 817 million euros for 2023.
Lagardère sanctioned
The Lagardère group, which came under the control of Vivendi, fell by 4.06% to 19.62 euros after announcing a second profitable year in a row, marked however by a slight drop in its profits.
The group also announced that it had received “a purchase offer concerning the Paris Match title from the LVMH group”.
On the market, the French luxury giant lost 0.20% to 848.70 euros and Vivendi 0.10% to 10.14 euros.
© 2024 AFP
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