The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange rose slightly by 0.19% in early trading on Thursday, awaiting data on services activity in Europe but especially on American employment on Friday.
The flagship CAC 40 index gained 15.31 points to 8,168.64 points around 9:40 a.m., after a stable opening. On Wednesday, it rebounded slightly, gaining 0.29%.
Stock market indices continue to move based on expectations about the next monetary policy of the American Central Bank.
Tensions on inflation appeared during the week after a first American indicator on industry on Monday, then stronger than expected job creation in the private sector, leading to a rise in borrowing rates.
The pressure eased a little at the end of the session on Wednesday with the decline of an index on prices in services in the United States.
On Thursday, the interest rate on the 10-year French government bond fell slightly to 2.90% compared to 2.91% on Wednesday at the close, remaining below its peak of 2.95% on Wednesday.
Investors are now especially waiting for the US employment report for March, which will be published on Friday, still putting themselves in the shoes of the central bankers.
On Wednesday, the President of the American Central Bank “reiterated, as in recent months, a constant message, if not enlightening: the Fed has the leisure to take its time to form a conviction that inflation will ultimately converge to the target”, observe Natixis analysts.
In Europe, the Central Bank also publishes the minutes of its last monetary policy meeting during the session.
New acquisition for Saint-Gobain
The French construction materials giant Saint-Gobain announced on Wednesday the acquisition of the Canadian group Bailey, a company specializing in metal frames for lightweight construction, for an amount of 600 million euros (880 million Canadian dollars).
The action, the strongest increase in the CAC 40 on Wednesday, rose another 0.63% to 73.56 euros.
Cosmetics down slightly
Cosmetics stocks fell slightly, after a warning on Wednesday from the American group Ulta Beauty which caused its price to fall by more than 15% on Wall Street. L’Oréal fell 0.32% to 420 euros and the part of Coty listed in Paris lost 1.60% to 10.12 euros.
In the luxury sector, LVMH fell 0.38% to 813 euros, and Hermès gained 0.04% to 2,396 euros.
© 2024 AFP
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