The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
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 index such as L’Oréal and Kering.
It even widened its losses until it fell by more than 2% shortly before 3:00 p.m. Then in one hour, it gained 100 points to come back close to balance, before giving way again.
The instability was accentuated by a technical effect, with the expiry of options on stocks and indices and on futures contracts, in a session known as “the three witches.”
But investors have also been changeable about their anticipation of the US Central Bank’s (Fed) monetary policy.
The most important sector in the index, and which had carried the CAC 40 after the results of LVMH and Hermès, luxury this time weighed down the Parisian rating.
The momentum of the luxury division of cosmetics giant L’Oréal has worried investors, despite sales growth exceeding expectations. The action fell 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.
The other luxury stocks followed suit, such as the world number 1 LVMH (-0.39% to 631.50 euros), or Hermès (-1.62% to 1,304 euros).
The French media giant Vivendi recorded moderate growth in its activity in the third quarter, but the turnover of the television group Canal+, the main contributor to turnover, fell over the quarter by 3% and even nearly 5% at constant data.
The action fell 2.88% to 7.88 euros. Its parent company, the Bolloré group, on the other hand, took 1.09% to 4.81 euros.
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 put aside its withdrawal from Russia.
© 2022 AFP
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