The Paris Stock Exchange ended down 0.67% on Monday, marking a pause in its steady ascent, as investors still assess the likelihood of looser monetary policy based on the latest indicators.
The star CAC 40 index lost 45.29 points to 6,696.96 points. On Friday, it finished down 0.17%.
This had not prevented him from chaining a ninth week of gains (+0.44%), a series unheard of since 2009, according to data from the Dow Jones agency.
Investors remained on the last event of the past week, the report on employment in the United States. Contrary to analysts’ forecasts after several weak economic indicators, the report showed a very resilient job market, said Alexandre Baradez, analyst for the broker IG.
On Monday, the ISM services indicator in the United States was also surprised by its strength, taking the opposite view from the same indicator for the manufacturing industry published last week.
Investors have difficulty reading these contradictory figures, according to Mr. Baradez.
A tight labor market, and therefore conducive to wage increases that can fuel inflation, does not suit the US Central Bank (Fed). Its president Jerome Powell had begun a shift towards a slightly more flexible policy last week.
This new interpretation caused interest rates to rise in the United States, and to a lesser extent in Europe, a movement that was not favorable to equities.
In France, private sector activity contracted in November, the first in almost two years, according to the final publication of the composite PMI index by S&P Global.
The tech at half mast
Companies in the technology sector, sensitive to financing conditions because of their need for investment and their horizon of profitability, finished at the back of the pack with the rise in interest rates.
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Teleperformance lost 2.71% to 222.30 euros, Capgemini 2.39% to 173.40 euros, Dassault Systmes by 2.21% to 35.91 euros.
Beneteau sails towards profits
Boatbuilder Beneteau said on Monday that it could exceed its results forecast for the 2022 financial year and that it now has a significant lead on its 2020-2025 strategic plan, which it is revising several key figures upwards.
The title soared 16.39% to 12.78 euros. Over the year, the builder based in Vende, however, fell by 10.25%.
It brought in its wake the catamaran group Catana Group (+7.34% to 5.85 euros), while the number one European leisure residence Pierre et Vacances jumped 8.86% to 1.00 euro, an increase of 17.74% since December 1, date of its deferred annual results.