2023-04-28 17:04:12
After spending almost the entire session in the red, the CAC 40 index took 7.66 points, to 7,498.62 points, remaining just below the symbolic bar of 7,500 points.
Over the whole week, the stock market’s flagship index fell 1.13%, breaking a series of five weekly increases.
“The CAC 40, like other European markets, is evolving near its high point and crossing it would require real arguments. We don’t really have any despite some good company results” explains Andrea Tuéni, an analyst at Saxo Banque, in reference particularly to luxury companies whose results have been published in recent weeks.
“The market wanted to end the week on a better note than it started”, which prompted him to interpret the many indicators that marked the session positively, according to Mr. Tuéni.
Publications of European GDP ended in a rather gloomy balance sheet and the euro zone narrowly avoided recession, while growth there peaked at 0.1% in the first quarter.
The PCE index, the inflation indicator most followed by the American central bank, posted a slowdown on Friday to 4.2% over one year, against 5.1% the previous month.
The markets seem certain that the monetary institution will once again raise its key rate by 0.25 percentage point, but still hope that it will give indications for a more accommodating policy in the coming months.
On the bond market, yields on French 10-year Treasury bills fell to 2.88% around 4:20 p.m. GMT, against 3.03% at the close of the previous day. The 2-year-old followed a similar evolution.
Cointreau and Ricard drink the cup
Among the values of the CAC 40, Pernod Ricard fell 2.60% to 209.40 euros, the largest drop of the day, after announcing the day before a decline in its turnover of 2.3% to 2, 39 billion euros in the last quarter. Analysts polled by Bloomberg and Factset were expecting it at more than 2.47 billion.
The Rémy Cointreau spirits group disappointed investors by announcing that it expects “stable” turnover in its 2023-24 financial year, after a year in which its activity grew by nearly 18% thanks to the increase in the price of bottles.
The title which is part of the values of the SBF 120 unscrewed by 11.83% to 156.85 euros, the worst evolution of the session.
Interference on TF1
The action of TF1 lost 7.12% to 7.31 euros the day after the publication of the group’s results, below the expectations of analysts at Oddo BHF who underlined in a note a “difficult trend” during the first trimester.
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