The Paris Stock Exchange took advantage of the good performance of Wall Street on Thursday to progress by 0.96% on Friday, trying to end on a positive note another week marked by fears of recession.
The CAC 40 index rose from 56.47 points to 5,940.06 points. Thursday, it ended down 0.56% and over the week, the Parisian rating has so far been stable.
The stock market indices were hesitant this week, not knowing how to position themselves after the spectacular declines recorded since the beginning of the year.
The markets remain very volatile, confirms Xavier Chapard, strategist at La Banque Postale AM. They are caught between a lot of bad news that is already fairly well priced in and an economic outlook (which) continues to deteriorate, to the point that a recession is becoming more and more likely in the coming quarters, he explains.
The severe tightening of the Central Banks to fight against inflation makes investors fear an overly pronounced slowdown in economic activity and a global recession.
Thursday, the second day of his annual hearing before Congress Washington, the boss of the Federal Reserve Jerome Powell reiterated that the fight against inflation, at its highest in 40 years, remained unconditional.
The global inflation peak has probably not yet been reached, the central banks should not adopt a less harsh tone before at least the 4th quarter and the risks of recession continue to increase, believes for his part Mr. Chapard.
The latest economic activity indicators in June in the euro zone and the United States suggest a marked slowdown in the global recovery as summer approaches, adds Xavier Chapard.
Tech stocks on the rise
Technology stocks took advantage of the easing of bond yields to make up a little for the losses recorded since the beginning of the year. Teleperformance took 3.89% 293.70 euros, Dassault Systmes 2.42% 35.96 euros and Capgemini 1.15% 176.55 euros.
Stellantis strengthens its supply of lithium
The automotive group announced on Friday its entry into the capital of the German mine Vulcan, up to 50 million euros, and the extension of its initial supply agreement for low-carbon lithium. The Stellantis title lost 0.98% 12.10 euros.