The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended up 0.49% on Monday, extending its momentum from last weekend thanks to the hope of an economic recovery taking shape in the euro zone.
The star CAC 40 index gained 39.07 points to finish at 7,996.64 points. It even reached 8,033.23 points in the middle of the session.
On Friday, it finished up 0.54%, after the publication of the employment report in the United States, which did not prevent it from ending the week with a negative performance (-1.62%). . Thursday, May 2, it even reached its lowest closing level in two months.
The employment report in the United States showed a deceleration on Friday, with a drop in job creation and an increase in the unemployment rate. Investors have welcomed this dynamic because they hope that the decline in economic activity will push the American Central Bank to soften its monetary policy in the coming months.
The reduction in the Fed’s key rates seems certain during the year 2024, but the lack of progress on slowing inflation in the United States has several times led to a postponement of the date of the first reduction in the investor expectations.
In Europe, the reduction in key rates by the European Central Bank in June seems certain for the markets, a feeling further reinforced by the optimistic comments on inflation from the chief economist of the European Central Bank, Philip Lane, to from the Spanish online newspaper El Confidencial on Monday.
The upward trend was amplified after the publication of the PMI indicator for the euro zone in April, higher than the first estimate, particularly for services.
These data could illustrate “an inflection point” towards the restart of economic growth in the euro zone, which came close to recession at the start of the year, underlines Kévin Baslame, portfolio manager at Amplegest.
Even if more data is awaited before declaring victory, “the ECB is on the verge of succeeding in its challenge” of reducing inflation without triggering a lasting economic crisis, he believes.
Four offers for Atos
The troubled French IT group Atos announced Monday that it had received four financial restructuring proposals with a view to its rescue and that it wanted to find a solution “acceptable to them” with its creditors by May 31.
These four offers come from a group of shareholders and creditors of the company, the investment fund Bain Capital, the Czech businessman Daniel Kretinsky (once in discussions to buy part of Atos before to see negotiations broken off in February) allied with the Attestor fund and, finally, with Onepoint, the group’s largest shareholder in consortium with the investment company of businessman Walter Butler.
Atos said it had already ruled out Bain Capital’s offer.
After opening sharply up by more than 10%, its action finally lost 4.42% to 2.08 euros.
© 2024 AFP
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