The Paris Stock Exchange suffered Tuesday its third session of decline in a row (-0.37%), following its record gain in points established Thursday, penalized by a further rise in rates on the bond market.
The star CAC 40 index lost 29.96 points to 7,308.65 points. The day before, it had lost 0.16%, following -0.25% on Friday.
The Parisian rating had even fallen further in the early morning, following the publication of leading indicators of economic activity PMI, below 7,250 points, but it quickly made up for its losses.
Eurozone economic activity picked up sharply in February, growing at its fastest pace in nine months. But these data were not welcomed by the equity markets: they see in the resistance of the economy an opportunity for central bankers to tighten their monetary policies in order to fight once morest inflation.
“This has helped push bond yields higher in anticipation that central banks may be more inclined to raise policy rates,” said CMC Markets analyst Michael Hewson.
Investors also follow the end of corporate results. “The 2023 turnover is very good,” notes Caroline Lamy, co-head of equity management at Crédit Mutuel AM.
This is a sign that companies have been able to pass on the costs of inflation to their products, “but the tone is more cautious for the second half of 2023”, she also underlines, in the image Capgemini results published before the start of the session.
The French energy giant Engie recorded strong growth in 2022, boosted by soaring energy and especially gas prices, but its net profit was almost reduced to nil under the effect of significant charges. The action jumped 4.83% to 14.25 euros.
After nearly a year of war in Ukraine, “the market seems to have forgotten the geopolitical risk a little,” said Ms. Lamy. He was somewhat reminiscent of investors following Russian President Vladimir Putin’s vitriolic speech. In Paris, Thalès took 2.25% to 132 euros and Dassault Aviation 2.51% to 167.50 euros.
The IT giant has announced net income (group share) up 34% to 1.55 billion euros in 2022, another “record” year, but forecasts significantly slower sales growth in 2023 The title fell 2.78% to 182 euros.
The payment specialist Worldline achieved last year a turnover up 18% in published data, but the action lost 3.86% to 39.57 euros.
Edenred shares rose 1.22% to 52.96 euros following the parent company of Ticket Restaurant recorded record results in 2022 and said it anticipates “continued sustained growth” for the current year.
