(News Bulletin 247) – The CAC 40 is painfully ending a series of two declining sessions. The Parisian index ended up 0.3% despite a context of risk aversion after the disappointment aroused by Disney’s accounts and the return of fears about American regional banks.

The Paris Stock Exchange did not know on which foot to dance. After two sessions of decline, the CAC 40 finally closed up 0.28% to return to contact with 7400 points at 7381.78 points on Thursday evening.

Still, it was difficult to predict such an outcome shortly after 3:30 p.m. Rising before the opening of the American markets, the Parisian index then yielded to downward pressure from Wall Street, undermined by the return of fears about the country’s regional banks. PacWest, identified as the weak link in the system, announced a decline in its deposits last week. For its part, Disney pulls the Dow Jones down, the entertainment giant having announced a decline in its subscriber base in the first quarter.

These two bad news relegated to the background a slowdown in producer prices in the United States for the month of April to 2.3% over one year against 2.7% in March and 2.5% expected. As for weekly jobless claims, they climbed by 22,000 last week to reach their highest since October at 264,000 claims.

Market operators seem to see in these figures an additional argument for the American Federal Reserve (Fed) to stop raising key rates and thus put an end to its cycle of monetary tightening.

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Beneteau under full sail

In terms of values, DBV Technologies finished at the top of the SBF 120 orders, the biotech gained 9.8% after announcing convincing results as part of its phase 3 Epitope study evaluating its product Viaskin Peanut in children aged 1 at 3 years old.

French biotech is followed by Beneteau (+8.4%), which published like-for-like revenue growth of nearly 50% in the first quarter and raised its objectives for the year 2023.

Solutions 30 limits its gains to 2.7%, despite growth that exceeded 14% in the first quarter, thanks to the jump in revenues in the Benelux region (Belgium, the Netherlands and Luxembourg).

Elis, for its part, lost 2% despite a dynamic start to the year in terms of income but without any real surprise for the market.

On other markets, the euro fell 0.7% against the dollar to 1.0911 dollar. Oil prices have turned down after OPEC forecasts for global demand for black gold. The July contract on Brent from the North Sea lost 0.8% to 75.78 dollars a barrel while that of June on WTI listed in New York yielded 1% to 71.81 dollars a barrel.