The Paris Bourse fell 0.50% on Thursday, weighed down by the luxury sector while the rest of the markets were satisfied for a time by the latest figures …
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The Paris Bourse fell 0.50% on Thursday, weighed down by the luxury sector while the rest of the markets were satisfied for a time by the latest figures on price trends in the United States.
The flagship CAC 40 index dropped 36.05 points to 7,201.14 points. It finished up 0.75% on Wednesday.
The Parisian rating remained in the red throughout the session, unlike its European and American counterparts, which evolved in the positive in the middle of the day.
According to Frédéric Rollin, investment advisor for Pictet AM, the decline in values in the luxury sector is linked to the sharp drop in the dollar in recent days, “which penalizes large exporters, such as companies such as L’Oréal or LVMH ”, heavyweights of the Parisian index.
The dollar has indeed lost more than 1.40% of its value against the euro in five days.
This sector trend explains why “the CAC 40 behaved a little differently” from other European stock markets on Thursday, adds the analyst.
“Apart from that, the indices have been stable or in the positive” much of the day, reassured by “inflation figures which have ceased to surprise on the upside”, commented Mr. Rollin.
In the United States, consumer prices have, as expected, climbed 7% in 2021, registering their largest increase since June 1982.
But in December alone, inflation slowed compared to November, to 0.5% against 0.8% in particular because the increase in energy prices slowed for the first time since April.
In addition, Thursday, wholesale prices in December came out below analysts’ expectations: + 0.2% compared to November, against + 0.4% expected, a sharp slowdown.
For the whole of 2021, however, wholesale prices have jumped 9.7%, unheard of since these data began to be compiled in 2010.
Faced with these record price increases, the US Federal Reserve (Fed) has already warned that the withdrawal of its exceptional measures to support the economy would be done more quickly than expected.
Luxury suffers
In the last three places of the CAC 40 were the flagships of French luxury, Kering (-3.61% to 685.90 euros), Hermès (-3.17% to 1,329 euros) and L’Oréal (-2.81% to 388.80 euros). Shortly afterwards came LVMH which gave up 2.64% to 690 euros.
Renault targets 100% electric sales
The Renault brand is targeting no longer 90% but 100% of electric sales in Europe in 2030, announced the CEO of the Renault group, Luca de Meo, on Thursday at a press conference. The action finished at the top of the CAC 40 with an increase of 4.58% to 33.89 euros.
Sopra Steria confirms its objectives
The action climbed 5.67% to 163.90 euros, after the group confirmed to plan to “largely achieve” its performance targets in 2021.
Euronext CAC40
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