The Paris Stock Exchange fell slightly on Friday in the first trade (-0.05%), maintaining its gains for the week when signs of a loss of steam in employment kept investors hoping that the American Central Bank would not go back up. its rates in September.
The star CAC 40 index fell by 3.84 points to 7,312.86 points around 9:30 a.m. The day before, it fell by 0.65%. Over the week, it still rose by 1.16%.
This weekly increase to end a difficult month of August (-2.42%) is explained by several central bank players who were cautious about a new rise in rates and data, in particular on American employment, that went in this direction, according to analysts at Deutsche Bank.
The fall in the number of job vacancies and job creations in the private sector have contributed to this dynamic, but the justice of the peace is still the monthly employment report by the Labor Department, expected shortly before the opening of the markets. Americans.
This is the most important economic statistic of the month, according to John Plassard, investment specialist at Mirabaud, and any breach of the consensus will cause the markets to move sharply, one way or the other, he warns.
Investors hope to find new signs of running out of steam in this regard, both in terms of the unemployment rate and wage growth, so that the American Central Bank will have to take a break in its cycle of raising key rates, when of the September meeting, and possibly also at the November meeting according to Swissquote analyst Ipek Ozkardeskaya.
Key rates are central bankers’ main tool for fighting inflation. It still remains well above the official target in both Europe and the United States, and pressure on both raw materials and wages continues to be exerted.
BioMrieux falls after its results
The French specialist in the detection of infectious diseases bioMrieux, suffered a 30% drop in profits during the first half, linked in particular to the acquisition of Hybiome, a Chinese company specializing in immunoassays.
The company confirmed its financial targets on Friday but fell 6.05% to 89.82 euros in the first exchanges, also dragging Sartorius Stedim Biotech (-1.91% to 257.10 euros).
Continuous pressure on luxury
Luxury companies, heavyweights on the Parisian coast, suffered from investor mistrust in the context of fears linked to China: LVMH fell by 1.23% to 772.60 euros, Herms by 1.34% to 1,875 euros, Kering by 1, 03% 489.10 euros. LVMH and Herms are among the few CAC 40 companies to post a negative stock market variation over the week.
The oil companies take advantage
The rise in commodity prices during the week benefited companies in the sector: TotalEnergies gained 1.67% to 59.05 euros, Vallourec 0.97% to 12.48 euros, Technip Energies 2.43% to 21.89 euros. A barrel of Brent oil from the North Sea is above 87 dollars, less than two dollars from its high for the year.
ArcelorMittal also earned 1.51% 24.90 euros.