The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended down 0.63% on Thursday, marking a pause the day after a new closing record enabled by the deceleration of inflation in the United States.
The flagship CAC 40 index dropped 51.50 points to 8,188.49 points. On Wednesday, the Parisian rating ended at a new closing record (8,239.99 points) after an increase of 0.17% over the day.
“The drop today is a healthy breath” after the records reached recently in France, but also on other European and American stock markets, comments Clémence de Rothiacob, manager at Richelieu Gestion.
The three major indices of the New York Stock Exchange broke records at the close on Wednesday, as did Paris, London and Frankfurt.
And on Thursday, on Wall Street, the Dow Jones crossed the symbolic threshold of 40,000 points for the first time on the New York Stock Exchange, pushed by investors who see interest rate cuts approaching.
“Recently the news has been positive: the combined effect of the deceleration of inflation (CPI) in the United States and lower-than-expected retail sales,” according to indicators published the day before, “provides comfort in the idea that household demand is hampered by inflation”, continues the manager.
For the markets “it was enough to review the prospects of rate cuts” from the Fed, the American central bank, she added.
Investors are counting on a first rate cut in September for the Fed and from June for the European Central Bank (ECB).
Ubisoft tastes
The French video game publisher Ubisoft, which had fallen into the red in 2022-2023 due to the postponement of the release of several major games, announced on Wednesday that it had become profitable again at the end of the 2023-2024 financial year, thanks to notably a “record” 4th quarter.
Analysts were, however, disappointed by the outlook presented and the stock fell 13.46% to 20.19 euros.
As part of its objectives for its 2024-2025 financial year, Ubisoft indicated that it expects a “slight increase in operating income (non-IFRS)” and an “increase in self-financing capacity leading to positive free cash flow”.
Elior delights
The share of the collective catering group Elior climbed 22.79% to 3.75 euros after announcing a return to profits for the first half of its postponed financial year and confirming its objectives for the rest of the year and medium term.
Adjusted EBITA, an indicator of the company’s profitability, more than doubled over the half-year, to 100 million euros compared to 41 million euros last year.
Its action benefited that of its parent company Derichebourg, which increased by 9.23% to 4.95 euros.
© 2024 AFP
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