2023-06-30 07:50:00
The Paris Stock Exchange is moving up 0.50% on Friday, on track for a fifth rising session this week, benefiting in particular from the slowdown in inflation in France and good economic data.
The star CAC 40 index advanced 36.27 points to 7,349.00 points around 9:35 a.m. It is in the running for a grand slam of increases this week, taking the opposite view from the previous one.
The weekly advance of the CAC 40 (+2.60%) does not yet compensate for the worst performance since mid-March of last week (-3.05%).
The session of the day is marked by many economic data, in particular on inflation.
Price increases slowed for the second month in a row in France, posting 4.5% year on year in June. It is the first time that it has been below 5% since April 2022 according to INSEE.
Household consumption of goods increased by 0.5% in May compared to April, but it remains 3.6% below the level reached a year ago, also reported INSEE.
At 11 a.m., it will be the turn of the aggregate figures in the euro zone, and the session will continue with the PCE indicator in the United States, the preferred thermometer of the American central bank to follow the evolution of prices.
The Parisian rating is currently up over the week, over the quarter (+0.38%), but especially since the start of the year (+13.54%).
Investors are coping without difficulty with the still very offensive discourse of central bankers on inflation.
In Sintra, Portugal, during the annual forum of the European Central Bank, “discussions revolved around inflation that has been too high for too long, which requires lastingly restrictive monetary policies. The risk to the economic outlook or to financial stability n ‘were not even discussed, “says Xavier Chapard, of Banque Postale AM.
But, notes Ipek Ozkardeskaya, an analyst at Swissquote Bank, “perhaps because aggressive US central bank tightening is not having as big an impact as expected, investors see no urgency to shed their stocks. “despite these speeches.
On the bond market, the French rate rose to 2.96%, the day following a sharp rise. Wednesday at the close, it was only 2.84%.
It gas for Engie
The French energy company Engie (+ 1.64% to 15.25 euros) on Friday raised its annual results forecast for 2023 and now expects recurring net profit group share between 4.7 and 5.3 billion euros. euros, once morest 3.4 to 4 billion previously. Over the week, the share rose by 8.08%, the second best performance of the CAC 40 index.
Sodexo mal servi
The collective catering and services group Sodexo announced Friday a turnover up 9.1% in the third quarter of its staggered financial year and slightly raised its annual objectives. Its action fell 2.21% to 99.62 euros.
No rally for Rallye
In the followingmath of falls of 50% and 32%, Rallye (-21.17% to 59 cents, following having reached a historic low) and Casino (-5.62% to 4.80 euros), fell once more on the stock market. The prospect of “massive dilution” for shareholders under the company’s colossal debt restructuring plan announced on Wednesday is scaring away investors.
Genfit takes off following a promising clinical study
French biopharmaceutical companies Ipsen and Genfit on Friday announced positive results from the latest stage of a clinical study evaluating a treatment for a rare liver disease that is one of the leading causes of liver transplantation. Ipsen rose by 1.45% to 112.20 euros and Genfit by 19.56% to 4.59 euros.
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