The Paris Stock Exchange advances cautiously on Friday, before new data on inflation in the euro zone and on economic activity in Europe and the United States.
The flagship CAC 40 index advanced by 6.68 points to 7,934.11 points around 9:25 a.m., after the first exchanges of advantage in the green. On Thursday, it fell by 0.34%, which did not prevent it from posting a strong increase (+3.54%) over the whole month of February.
Few surprises on the macroeconomic front, but positive surprises during the fourth quarter earnings season led to a favorable combination of low volatility and rising equity markets in Europe, Deutsche Bank analysts summarize.
Over the week, the CAC 40 remained stuck and fell 0.43%. Quite logically, the market needed to breathe. But the underlying trend still remains upward, estimates Christopher Dembik, investment advisor at Pictet.
So far, recent inflation data confirms disinflation. Although it is not as rapid as desired by the central banks, the downward trend is well anchored, and this is the essential element, support Natixis analysts.
Less than a week before the next meeting of the European Central Bank, investors will read inflation data for the euro zone in February this morning, after having already seen the figures for France on Thursday. Germany and Spain.
In the United States, unsurprising inflation figures in January triggered a slight drop in interest rates and propelled the Nasdaq technology index to a new high, beating its previous record from November 2021.
In addition to inflation, several data on economic activity are also expected for the euro zone and the United States during the session.
Saint-Gobain is suffering from the economic situation
Saint-Gobain suffered from the new construction crisis in Europe last year, and announced declining results and turnover for 2023 after a record 2022.
Last year, the construction materials giant saw its net profit fall by 11% compared to 2022, 2.67 billion euros on a turnover down 6.4% to 47.94 billion euros, the group indicated in a press release, nevertheless highlighting a record operating margin of 11%.
The stock fell 1.52% to 70.12 euros, the worst performance on the CAC 40.
Vallourec continues its debt reduction
Vallourec, a leading metallurgist specializing in seamless tubes for the oil and gas industry, came out of the red in 2023 after its recovery plan and the closure of its German factories: it announced on Friday a net profit of 496 million euros for 2023 compared to a net loss of 366 million euros in 2022. The share fell 5.70% to 13.23 euros.
Valeo, stock market restart on the rise
Valeo posted a net profit of 221 million euros in 2023, down 4% compared to 2022, while at the same time its turnover increased by 10% to 22 billion euros, according to results published Thursday. Its operating margin also increased, in line with its objectives.
The share gained 3.24% to 11.06 euros, which did not erase its difficult start to the year on the stock market (-20.63% in 2024) like all automotive equipment manufacturers.