The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended down slightly by 0.25% on Friday, as investors showed restraint in the face of the risk of tightening central bank policies, after a good week.
The star CAC 40 index ended down 18.44 points at 7,347.72 points. The day before, he had gained 0.89% after setting a new session record at 7,387.29 points. Over the week, it rose 3.06%, its best weekly performance since early January.
The Parisian odds spent almost the entire session in the red, even falling below 7,300 points at the start of the session.
“Expectations for the trajectory of the US Federal Reserve’s key rates have risen a lot”, and investors now see that the peak of rate increases higher than two weeks ago explains Sophie Chauvellier, manager of Dorval AM.
In question, “the figures released in the last few days”, between stronger than expected American employment and above all the rise in consumer prices on Tuesday and production on Thursday, “which showed still significant inflationary tensions”, according to Ms. Chauvellier. The primary inflation-fighting tool for central bankers is to tighten credit conditions to depress the level of economic activity.
Faced with this observation and after a prosperous start to the year (+13.50% on the CAC 40), the managers may have been tempted by some profit-taking.
The luxury group Hermès, which announced new records for turnover and profits, ended up 0.34% at 1,747.00 euros.
Safran took full advantage of the recovery in air traffic and the appreciation of the dollar, publishing a turnover up by a quarter in 2022 (+ 2.06% to 136.86 euros). The stock has jumped 16% since the start of the year.
Over the week, the best stock market performances were for companies that published their results such as Carrefour (+11.38%), Orange (+10.59%) and Airbus (+10.48%).
© 2023 AFP
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