2023-11-24 08:59:07
Paris (AFP) – The Paris Stock Exchange opened stable (-0.04%) on Friday, with investors maintaining a status quo while they digest some indicators and while awaiting publications in the United States.
Published on: 11/24/2023 – 09:59
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Around 9:45 a.m., the flagship CAC 40 index was in balance (+0.05%), gaining 2.79 points to 7,275.00 points. On Thursday, it increased by 0.24% to 7,277.93 points. Since Monday and at this stage of the session, the CAC 40 has advanced 0.65%.
On Friday, investors are particularly awaiting “the publication of American PMIs which might signal a new economic deceleration capable of reassuring the American central bank” (Fed), estimates John Plassard, investment specialist at Mirabaud.
In terms of indicators, in France, business creations fell by 1.4% in October over one month, mainly due to a further drop in registrations of micro-entrepreneurs, INSEE indicated on Friday.
In Germany, the country recorded a fall of 0.1% in its GDP in the third quarter of 2023, according to official figures confirmed on Friday, with the energy crisis weighing on the manufacturing sector, particularly in the automobile industry.
In addition, Europe’s leading economic power is preparing to suspend for the fourth consecutive year its rule of strict limitation of the public deficit in an attempt to resolve a serious budgetary and national political crisis, following a call to order from constitutional judges.
The news, which fell the day before, “caused German bond rates to fall,” observed Ipek Ozkardeskaya, analyst at Swissquote Bank.
In Germany, the IFO business climate indicator for the month of November is also on Friday’s agenda.
Finally, geopolitical developments in the Middle East will be scrutinized by investors.
The truce between Israel and Hamas in the Gaza Strip came into effect Friday morning, and is to be followed by the release of 13 hostages in the followingnoon, the first signs of respite following weeks of war.
Luxury in decline
In China, investors were once once more worried regarding the consequences of the Chinese economic slowdown on the future results of the country’s large companies. Stock indices fell by 0.68% in Shanghai and by 1.96% in Hong Kong, which in France weighed on the price of shares sensitive to the Chinese market, with luxury in the forefront.
Hermès thus fell by 0.67% to 1,946.60 euros, LVMH by 0.52% to 708.00 euros and Kering by 0.37% to 404.45 euros.
Saint-Gobain appoints its CEO
Benoît Bazin, current general manager of Saint-Gobain (-0.36% to 57.65 euros), will also become president of the construction materials giant next June, which announced on Thursday its decision to combine these two functions.
© 2023 AFP
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