The Paris Stock Exchange was almost stable Thursday morning, benefiting little from Wall Street’s momentum the day before, while train manufacturer Alstom plunged more than 30% after a financial warning.
The flagship CAC 40 index took 2.24 points to 6,998.97 points (+0.03%). The day before, the Parisian market had finished perfectly in almost perfect balance (-0.00%), dropping only 0.32 points, after falling below 7,000 points on Tuesday for the first time since March.
For several days, investors have had their eyes focused on the bond market, where the rise in rates has weighed on the equity markets.
Taking advantage of a lull on this front, and an American employment indicator well below expectations, Wall Street ended up in the green, albeit with difficulty, notes John Plassard of Mirabaud.
The CAC 40 had difficulty following the trend on Thursday. The index has been moving around equilibrium since its opening with a small increase.
On the bond market, the rate on the 10-year American bond rose again to reach 4.74% compared to 4.73% the day before. The German rate was 2.94% compared to 2.92% the day before and that for France was up 3.51% compared to 3.48% the day before.
The markets are on a roller coaster ride this week and the slightest indicator can change the situation, notes Ipek Ozkardeskaya of Swissquote Bank.
Investors will now closely follow the publication of the American unemployment rate for September on Friday.
Alstom drags
After half an hour without trading, Alstom shares opened very sharply: around 10:50 GMT, they lost 34.74% to 14.01 euros.
The railway manufacturer announced on Wednesday evening that it had recorded a free cash flow of -1.15 billion euros in the first half of its 2023-2024 lagged financial year, ending September 30, and expects that it will remain negative over the entire period. exercise, contrary to previous announcements.
The group has published preliminary financial information to warn that the available cash flow, previously announced as significantly positive for the financial year, would in fact be negative, between -500 and -750 million euros.
Casino
The distributor in financial difficulties Casino has taken an expected but important step for its future by reaching a binding agreement with the takeover candidates and its main creditors on the terms of its financial restructuring, it announced Thursday morning.
Trading of its shares, suspended since Wednesday, is due to resume at 11:00 a.m., Euronext announced.