2023-05-12 20:17:30
The Paris Stock Exchange ended up slightly up 0.45% on Friday with a good performance from the banks following the results of Societe Generale, but not enough to end the week on a positive note.
The star CAC 40 index rose 33.07 points to 7,414.85 points. However, it ended the week down 0.33%. This is its third consecutive week of decline, its worst streak since September 2022.
The Parisian rating had started the session more vigorously, with luxury stocks boosted by the results of the Swiss Richemont, reaching 7,463 points. But, as in the rest of the week, its rebound slowed in the second half of the day and Hermès finished penultimate in the CAC 40 (-0.67% to 1,975.40 euros).
After the corporate results season, then the central bank meetings, the news of the week was poorer.
“It’s all in the nuance”, even if “several positive points” might then support the markets, believes Céline Weill-Alliel, manager of Uzès Gestion, who recalls that the markets have risen very strongly since September 2022.
Among the signals, it counts the resumption of dialogue between China and the United States or the confidence displayed by the monetary authorities, like the Bank of England on Thursday, that the economies will escape recession.
The global dynamic is however not very expansive: consumer confidence plunged in May in the United States, weighed down by growing concerns regarding the health of the economy but also by the debate on the debt ceiling and a potential default of country payment.
It might occur as early as early June, if no agreement is reached between Democrats and Republicans to raise the debt ceiling, the Congressional Budget Service (CBO) said on Friday.
Joli Scor
The reinsurer Scor announced a net profit of 311 million euros in the first quarter, well above analysts’ expectations, thanks in particular to a rise in tariffs, returning to the green following a loss of 35 million last year at the same time. period, restated according to a new accounting standard.
Its action took 9.43% to 25.75 euros following falling sharply by 23% in 2022 in the face of losses recorded due to the impact of natural disasters.
Societe Generale boosts the banks
The Societe Generale banking group (+1.19% to 22.06 euros) announced a net profit up 5.7% year on year in the first quarter, and higher than analysts’ expectations, the financing bank and investment, international retail networks but also automobile leasing compensating for the small form of retail banking in France.
Over the year, the share fell another 5.96%, the third worst performance of the CAC 40.
The other banking shares did even better, with gains of 1.99% to 58.49 euros for BNP Paribas and 1.44% to 11.72 euros for Crédit Agricole, which also posted the best performance of the week. (+5.93%).
JCDecaux in retreat
The French display giant JCDecaux (-3.79% to 18.30 euros) achieved in the first quarter a turnover up 6.9% to 672 million euros.
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