(News Bulletin 247) – The Parisian index fell again this Thursday. Kering recorded a rebound, driven by an increase in recommendation from Bank of America, while Stellantis suffered.

The CAC 40 continued a third session of decline this Thursday. The index lost 1.03% to 7,530.72 points, slightly accelerating its decline at the end of the day.

The wait-and-see attitude once again prevailed this Thursday. “The markets are still attentive to several political events, including the first round of the French legislative elections on Sunday. Investors are therefore faced with multiple risks, which prevents the markets from gaining momentum,” summarizes Deutsche Bank.

Several statistics were published on Thursday. US growth for the first quarter was revised slightly upwards, to 1.4% at an annualized rate, compared to 1.3% in a first estimate. New weekly unemployment claims in the United States moderated to 236,000 units, compared to 238,000 the previous week.

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OVHcloud is on the mend

The market is now awaiting the release on Friday of the PCE index in the United States for the month of May, the preferred gauge of the American Federal Reserve to measure inflation.

On values, OVHcloud jumped 14.2% after delivering growth “slightly above expectations” in the third quarter, according to Oddo BHF.

Euroapi fell by 2.6%. The former Sanofi subsidiary detailed its strategic plan and in passing lowered its outlook for 2024 which had been suspended since March and the shutdown of a production site in Italy.

Stellantis lost 4%. In a note published this Thursday, HSBC warns that sales volumes and low inventory clearance in the United States suggest that the first half of 2024 will be more difficult than consensus expects.

Kering gained 4.7%, supported by Bank of America, which switched to buy on the stock from “underperformance” previously.

Conversely, Dassault Systèmes dropped 1.7% while Deutsche lowered its recommendation to “hold” from “buy”.

On other markets, the euro gained 0.3% against the dollar, to 1.0709 dollars. Oil is rising. The August contract on North Sea Brent gained 1% to 85.25 dollars per barrel, while that of the same maturity on WTI listed in New York gained 1.1% to 81.77 dollars per barrel. .