The Paris Stock Exchange experienced another volatile session on Friday and ended down 0.85%, weighed down by several corporate results and tensions in the bond market.
The star CAC 40 index fell 51.51 points to 6,035.39 points. However, it continues a third weekly increase of 1.74%, a gain of 4.74% in October.
The Parisian rating opened sharply lower, weighed down by results from companies that were generally poorly received, in particular those of the heavyweights of the L’Oral and Kering index.
It even widened its losses until it fell by more than 2% shortly before 3:00 p.m. But in one hour, she gained 100 points to come back close to balance, before losing ground again.
The instability was accentuated by a technical effect, with the chance arrival of options on equities and indices and on futures contracts, in a session known as the three witches.
But investors have also been fluctuating in their anticipation of the US Central Bank’s (Fed) monetary policy.
After several statements by Fed officials on Thursday, they were convinced that the institution would continue to raise its main key rate sharply in the coming months to bring inflation back to its target of 2% at the risk of compressing credit and the economy. economic activity.
But the mood improved markedly after an article in the Wall Street Journal stating that the Fed would discuss at its next meeting a slowdown in the rise in its main interest rate.
Rising rates by 0.75 percentage points in November, as in recent sessions, could lead to a pause or a slowdown, from December, retains Michael Hewson, analyst at CMC Markets.
The cost of borrowing from the French state thus reached a new high in 10 years in session, 3.09%, before falling back and ending at 2.96%.
Luxury shines less
The most important sector in the index, and which had carried the CAC 40 after the results of LVMH and Herms, luxury this time led the Parisian coast.
The dynamics of the luxury division of the cosmetics giant L’Oral worried investors, despite sales growth exceeding expectations. The action fell by 5.80% to 310.10 euros.
Another sharp drop, Kering (-3.30% to 454.10 euros) was penalized by its Gucci brand, according to analysts at Oddo BHF.
For EssilorLuxottica, it is the optical division, which shows signs of moderating growth in the main geographical areas according to analysts at Bernstein, which penalized the action (-3.46% to 153.45 euros)
The other luxury stocks were also driven, such as the world number 1 LVMH (-0.39% to 631.50 euros), or Herms (-1.62% to 1,304 euros).
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Vivendi lead by Canal+
The French media giant recorded moderate growth in its activity in the third quarter, but the turnover of the Canal+ television group, the leading contribution to Vivendi’s turnover, fell over the quarter by 3% and even almost 5% constant data.
The action fell 2.88% to 7.88 euros. Its parent company, the Bollor group, on the other hand, took 1.09% to 4.81 euros.
Among the other results of the day
Renault (+0.12% to 32.76 euros) published a turnover of 9.8 billion euros in the third quarter, posting an increase of 20.5% if we set aside its withdrawal from Russia.
Forvia, the entity that brings together automotive suppliers Faurecia and Hella, published sharply higher sales figures in the third quarter, rebounding with global automotive growth. The Faurecia share lost 2.64% to 13.29 euros.
Covivio (-0.39% to 50.45 euros), Gecina (-2.75% to 82.05 euros) or even Tikehau (-0.41% to 24.30 euros) also did not progress after the publication of their results.