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 CAC 40 index took 15.71 points to 6,212.82 points. Since the start 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, in the short term, 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.
“European markets seem to have brushed aside these worrying signals pointing in the direction of a slowing 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 engage at will”, which remains “a factor of indecision” for investors.
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”, from the film by James Cameron. The title lost 1.34% to 41.10 euros.
The French hydrocarbon producer Maurel & Prom, which saw its revenues almost double in the first half thanks to soaring crude prices, took 3.99% to 4.44 euros.
The giant Total Energies ended up 1.37%, at 48.54 euros.
Compagnie des Alpes saw its turnover increase by 22% in the third quarter of its fiscal year shifted compared to the same period before the Covid-19 pandemic and confirms that it expects sales for its entire 2021-2022 fiscal year higher than before the pandemic. The stock closed up 3.48% to 16.06 euros.
© 2022 AFP
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