The Paris Stock Exchange ended down 0.52% on Wednesday, ending four consecutive upward sessions, somewhat cooled by economic indicators and geopolitical risk.
The star CAC 40 index fell 34.44 points to 6,607.40 points. In the four previous sessions, it had taken 3.28%, including 0.49% on Tuesday.
Since the trough at the end of September, the index “has taken up 1,000 points”, also underlines Frédéric Rozier, manager at Mirabaud, who would therefore not be surprised by a “period of consolidation”, where the indices would stand still or give way. a bit of ground, especially as the next few days promise to be light in terms of news.
On the Wednesday session, he notes in particular “the return of concerns about the economic slowdown”, after several days when investors were delighted by the decline in US inflation.
In particular, US industrial production fell slightly in October (-0.1%) and that of September was revised sharply downwards.
Some US retailers, such as Target, also disappointed, showing that the consequences of inflation on consumption are not over.
On the other hand, retail sales in October came out in line with expectations, up 1.2%.
Investors also paid attention to the risk of escalation of the war in Ukraine after the fall of a missile on Polish territory, reassured after NATO officials contradicted kyiv’s accusations of a Russian missile launch against Poland.
Alstom convinces investors
The integration of Bombardier Transport has once again led the railway manufacturer Alstom to post losses (21 million, slightly less than in 2021), but the management considers that everything is going as planned, especially since the figure of business, order intake and profitability are improving. The action soared 7.16% to 25.59 euros. Since January 1, however, it has fallen by 18.03%.
The defense sector carried
Companies with defense activities were noticed by investors in the geopolitical context. Thalès took 2.62% to 119.25 euros and Dassault Aviation 1.39% to 146.10 euros.
The automobile at the back of the pack
Automobile companies have suffered with the return of fears about the level of economic activity. Renault lost 3.70% to 32.04 euros, Michelin 1.43% to 26.51 euros and the equipment supplier Valeo by 5.43% to 18.29 euros.
Air France raises funds but melts on the stock market
The action of the airline group Air France-KLM fell 10.51% to 1.26 euros, after the announcement of an issue of bonds convertible into shares for an amount of 300 million euros.
Air France could also see its cabin crew go on strike during the holiday season.
Wage increase at Orpea
The new CEO of Orpea (-6.54% to 7.49 euros), the group of private retirement homes, in bad financial shape and again targeted by searches, announced salary increases to come for employees and promised to pursue a substantial hiring plan.
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