The Paris Stock Exchange rebounded by 0.70% on Friday morning, driven by good corporate results, welcome after the tumultuous day the day before, caused by the hardening of the tone of the European Central Bank (ECB).
The star CAC 40 index rose by 49.35 points to 7,052.63 points at 9:21 a.m., the day after a sharp drop of 1.54%.
Vinci, Sanofi, which published their results in the morning, as well as Publicis, whose results were announced Thursday morning, notably occupied the top of the index.
The ECB maintained its monetary course on Thursday despite record inflation in the euro zone, but the markets mainly remembered that it had been less affirmative on the absence of a rate hike this year in the face of a situation that has changed. noted its president, Christine Lagarde.
In Europe, volatility will increase as investors will have to reconsider their exposures and the impact on the equity market of a much less accommodating ECB, write analysts at Saxo Bank.
Inflation should remain high longer than expected, but should decline during the year, summarized the President of the ECB on Thursday after a meeting of the Governing Council.
The risk of permanently high prices in the euro zone is unanimously recognized by the 25 members of the Council, according to Ms. Lagarde.
The markets had also suffered on Thursday from the trend in the United States, where Wall Street fell after disappointing results in the tech sector, Meta (Facebook) tumbling by more than 26%.
The cause: a net profit of the group down in the fourth quarter, as well as the stagnation in the number of Facebook users compared to the previous quarter.
However, the positively received results from Amazon or Snap, after the American close, suggest a less tumultuous session on Friday.
Today’s session will be mainly animated by the publication of the monthly report on employment in January by the US Department of Labor, an important element for the policy of the US Federal Reserve, which is also committed to monetary tightening.
Vinci doubles its profits
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The title of Vinci rose 2.28% to 99.73 euros, after announcing a doubling of its profits last year, even if the group has not returned to its pre-pandemic level due to the situation of the airport activity.
Sanofi dop with its flagship treatment
On the side of the pharmaceutical group, the price increased by 2.02% to 93.13 euros. The laboratory published on Friday results up sharply in 2021, still boosted by its flagship treatment Dupixent, which continues to serve as a locomotive, allowing it to further increase the amount of dividends that will be paid to its shareholders.
BNP Paribas dominates the CAC 40, banks in good shape
BNP Paribas was at the top of the CAC 40 on Friday, rising 4.04% to 66.21 euros. The bank has ensured that it is well above the regulatory capital requirements, after an assessment by the ECB. It has also entered into an exclusive partnership with Jaguar Land Rover for the marketing of loans and insurance.
Societe Generale also took 1.20% to 34.67 euros, but Credit Agricole rose 0.32% to 13.79 euros, taking advantage of the context of rising rates on the bond market after the ECB meeting.