(News Bulletin 247) – The Paris Stock Exchange was up on Friday at mid-session, reassured by the publication on Thursday of good weekly employment figures in the United States.
The Paris Stock Exchange wants to end the week on a high note. The CAC 40 rebounded by 0.70% to 7,298.49 points this Friday at mid-session.
Investors are not hiding their relief after better-than-expected weekly US unemployment data. Weekly jobless claims came in at less than feared, at 233,000 new units, compared with a consensus of 241,000, and a previous week of 250,000.
On Thursday, this report had already done some good to the Parisian star index. It had contained its decline to -0.26% to close far from its session lows after this statistic.
On Wall Street, the publication also gave new life to the American indices. On Thursday, the Dow Jones recovered 1.8%, the Nasdaq Composite rebounded by 2.9% while the S&P 500 gained 2.30%.
American employment is definitely blowing hot and cold on the financial markets. Investors had taken the blow with the publication of a disappointing monthly employment report last Friday. This had fueled fears of the entry into recession of the first American economy and the sudden decline of global indices on Monday.
On a weekly basis, the CAC 40 still manages to show itself in positive territory, since it has gained 0.67% for the time being.
“Financial markets have now erased about half of the decline from late last week and early this one, helped by jobless claims data,” notes James Reilly of Capital Economics.
Sparse news
As for business news, for once it is reduced at the beginning of August.
After falling by 6%, Eutelsat rose by 2.5% in response to the publication of its 2023-2024 annual accounts.
Excluding publications, Compagnie des Alpes fell by 0.6%, as the leisure group will lose operation of the Tignes ski area from June 1, 2026.
On the foreign exchange market, the euro gained 0.1% against the dollar to $1.0923. On the oil side, it is sluggish. The October contract on North Sea Brent is stable at $79.20 per barrel, while the September contract on WTI listed in New York is up 0.1% to $76.28 per barrel.
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