2023-10-13 16:28:37
Investors’ reluctance to face geopolitical risk and the rise in oil prices caused shares on the Paris Stock Exchange to fall sharply by 1.42% on Friday, close to 7,000 points.
The flagship CAC 40 index fell by 101 points, to 7,003.53 points. This drop also makes it fall into the red over the week (-0.80%), despite its best Tuesday session since July. Since January 1, the index has gained another 8.18%.
“It’s a fear session,” described Marie Cecchini, manager at Amplegest. These tensions materialize in several areas, notably “geopolitics” with the situation in the Middle East.
Israel on Friday ordered the evacuation of “all civilians” from Gaza City “for their own safety and protection”, as the Israeli state continues to shell the Palestinian territory on the seventh day of its war once morest the Islamist movement Hamas .
The clashes, launched on Saturday by a Hamas attack, have already left thousands dead and hundreds of thousands displaced.
This situation caused oil prices to soar by almost 4% at the time of the Paris close.
But the concerns are also economic and relate to “the slowdown in the euro zone”, with Friday a downward revision of a growth forecast in Italy and, in the United States, the deterioration of American consumer confidence more marked than expected, noted the manager.
This climate of distrust resulted in a pull towards the bond market, which caused a drop in rates.
The interest on the French 10-year bond, the benchmark maturity, ended the week at 3.36%, down from 3.40% on Thursday and 3.47% last week.
Health in difficulty
The supplier of equipment for the biopharmaceutical sector Sartorius Stedim Biotech dropped 16.74%, to 187.25 euros, the day following the drop in its turnover forecasts for 2023.
Most health stocks ended in sharp decline. On the CAC, Eurofin fell 4.11% to 49.65 euros. On the SBF 120, Euroapi fell by 6.60% to 5.32 euros, losing almost 56% over the week following a new profit warning.
In retirement homes, Orpea fell 13.01% to 1.13 euros, following its results on Thursday, leading LNA Santé (-5.98% to 22 euros) and Clariane (ex-Korian) (-4.29 % at 5.02 euros).
LVMH below
The luxury giant LVMH achieved the worst weekly performance of the CAC 40 (-9.47% to 660.60 euros) following publishing results on Tuesday which confirmed in the eyes of investors the return to less strong growth of the group.
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