The Paris Stock Exchange fell 0.50% on Thursday, weighed down by the luxury sector while the rest of the markets were once satisfied with the latest figures on price trends in the United States.
The flagship CAC 40 index lost 36.05 points to 7,201.14 points. It ended up 0.75% on Wednesday.
The Parisian coast remained in the red throughout the session, unlike its European and American counterparts which evolved in the positive in the middle of the day.
According to Frdric Rollin, investment advisor for Pictet AM, the decline in luxury sector stocks is linked to the sharp drop in the dollar in recent days, which penalizes major exporters, such as companies such as L’Oral or LVMH. , heavyweights of the Paris index.
The dollar has indeed lost more than 1.40% of its value against the euro in five days.
This sectoral trend explains why the CAC 40 behaved a little differently from other European stock markets on Thursday, adds the analyst.
Apart from that, the indices have been stable or in the positive for a good part of the day, reassured by inflation figures which have ceased to surprise the rise, commented Mr. Rollin.
In the United States, consumer prices have, in line with expectations, climbed 7% over the year 2021, recording their strongest rise since June 1982.
But in December alone, inflation slowed down compared to November, 0.5% against 0.8%, in particular because the increase in energy prices slowed for the first time since April.
In addition, on Thursday, wholesale prices in December came out below analysts’ expectations: +0.2% compared to November, against +0.4% expected, a marked slowdown.
Over the whole of 2021, however, wholesale prices jumped 9.7%, unheard of since this data began to be compiled in 2010.
Faced with these record price increases, the US Federal Reserve (Fed) has already warned that the withdrawal of its exceptional economic support measures would take place more quickly than expected.
The liquidity tap, which has allowed the markets to reach peaks in recent months, is therefore about to close, something to encourage investors to be a little cautious.
In addition to the theme of monetary policy, investors will soon be overwhelmed by the results of the fourth quarter.
Luxury suffers
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In the last three places of the CAC 40 were the flagships of French luxury, Kering (-3.61% to 685.90 euros), Herms (-3.17% to 1,329 euros) and L’Oral (-2.81% to 388.80 euros) . Shortly after came LVMH which sold 2.64% to 690 euros.
Semiconductors stand out
Semiconductor manufacturers stood out on the equity markets, like STMicroelectronics (+3.09% to 43.92 euros) and Soitec (+3.08% to 214.40 euros). While the rest of the tech fell: Teleperformance lost 2.67% 361.30 euros and Dassault Systmes 2.04% 46.11 euros.
Renault aims for 100% electric sales
The Renault brand is no longer targeting 90% but 100% of electric sales in Europe by 2030, announced the director general of the Renault group, Luca de Meo, Thursday, during a press conference. The action ended at the top of the CAC 40 with an increase of 4.58% to 33.89 euros.
Sopra Steria confirms its objectives
The stock rose 5.67% to 163.90 euros, after the group confirmed that it expects to largely meet its performance targets in 2021.