The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / ERIC PIERMONT)
The Paris Stock Exchange ended higher on Wednesday, after publication of data on American employment rather favorable to investors and during an intervention by the president of the American central bank (Fed) before the United States Congress.
The flagship CAC 40 index gained 21.92 points, ending at 7,954.74 points. On Tuesday, it closed down 0.3%.
First statistic of the week on the American labor market, private sector companies created 140,000 jobs in February in the United States – a little less than expected -, according to the monthly ADP/Stanford Lab survey published Wednesday, which serves preview before the official monthly report which is due to appear on Friday.
A less dynamic labor market bodes well for investors in the fight against inflation, but the survey also showed that the rise in salaries of those who changed jobs increased. accelerated, a first since November 2022.
Even slightly below expectations, “the figures remain extremely robust”, noted Charles de Riedmatten, manager of Myria AM, who recalls that the markets also increased significantly at the start of the year thanks to the increase in growth forecasts for 2024 to UNITED STATES.
Strong economic activity tends to push prices upwards.
But if inflation has shown signs of progress for a year and a half, continued progress on this front “is not assured”, Jerome Powell, the president of the Fed, repeated before Congress.
Consequently, Mr. Powell did not come forward to give a precise timetable for lowering rates, limiting himself to saying “at some point this year”, while the market anticipates a first decision in this direction by June .
Thursday’s session will also be animated by monetary policy, with the meeting of the European Central Bank (ECB). It should, according to all expectations, keep its key interest rates unchanged, but investors will be on the lookout for any signal of a date for a first rate cut during the press conference of the president of the ECB, Christine Lagarde, as well as new projections on inflation from the Frankfurt institution.
On the bond market, the interest rate on the ten-year French government bond remained stable at 2.78%.
Scor scores points
The reinsurer Scor published a record net profit for last year, at 812 million euros, driven by price increases and a lower cost of climate claims.
Its action jumped 8.24% to 29.55 euros.
Dassault Aviation out of delivery
Dassault Aviation’s turnover plunged 31% in 2023, to 4.8 billion euros, due to supplier difficulties which led to a drop in deliveries of Rafale fighter jets and especially of Rafale fighter jets. Falcon business.
The aircraft manufacturer’s stock fell 5.43% to 182.90 euros.
Euronext CAC40