Cac 40: The Paris Stock Exchange posts its best weekly performance since the end of June, up 3%

(BFM-Berse) – Up 0.25% on Friday, the Paris Stock Exchange posted a weekly increase of 3% to 6,200 points. This performance was all the more remarkable as this week’s news was not necessarily conducive to a recovery in the indices.

This week’s news has been very busy. Between fears about Russian gas supplies, the eruption of a political crisis in Italy and the ECB’s first interest rate hike since 2011, and disappointing results from the big American tech experts, operators were at a loss as to where to turn. However, the CAC 40 ended this difficult week up 0.25% to 6,216.82 points with a summer trading volume of 2.9 billion euros.

With a plus of 3% on a weekly basis, the Paris Stock Exchange achieved its best performance since the end of June (+3.26%). A gain that also allows it to pare its year-to-date decline to 13.2%.

On Wall Street, American indices are in scattered order, the Dow Jones is up 0.2%, the S&P is down 0.5% from a high of 4,000 points earlier in the session, where the Nasdaq is down 0.8% fell, weighed down by Snap’s decline (-35%) following Thursday’s publication after its IPO of lower-than-expected sales and a loss that has nearly tripled in a year. The other social networks listed in New York cannot be surpassed, Meta or Pinterest collapsed sharply at the close of trading on the European markets. Twitter escaped the decline, although results fell short of expectations as markets welcomed the surge in the number of monetizable users.

The US Federal Reserve, in turn, will give its verdict on its monetary policy next week. Operators firmly believe that the Federal Reserve is headed for a 0.75 percentage point hike in its benchmark interest rate, not 1%, after a first tightening of this magnitude last June. It will follow in the footsteps of the ECB, which for the first time since 2011 decided to hike interest rates by 0.5% instead of 0.25% to counteract record inflation, which hit 8.6% in the euro zone in June annual base reached .

GL events at the rendezvous, off road for Navya

On the corporate side, periodic publications continued to feed the stock exchange, particularly on the small and mid-cap side. GL Events lands at 10.4% after accelerating its activity in the first half. The group specializing in events is anticipating an even more dynamic second half of the year, hoping for annual sales growth of more than 45 million euros for 2022.

For its part, ID Logisitics gained 4.65% after reporting strong revenue growth of 40.3% to €641.6 million in the second quarter.

Ubisoft fell 1.3% after announcing a 9.8% decline in revenue in the first quarter of its 2022-2023 fiscal year and a postponement of the James Cameron film’s Avatar: Frontier of Pandora game to 2023-24 would have .

On the other hand, Somfy was down nearly 13% at the close. The Group’s growth slowed down in the first half of the year, mainly due to a worsening of the economic and geopolitical situation in the second quarter. Based on their first estimates, the Savoyer Group’s current operating margin should therefore show a decrease compared to the “extraordinarily high” of the first half of 2021.

Navya fell 29.2% after a steep 36% drop the previous day after announcing a €36 million financing agreement with Negma, an investment firm based in Dubai, United Arab Emirates.

For their part, oil prices started to rise again despite disappointing economic indicators and fears of a slowdown in Chinese demand. North Sea Brent is currently up 0.96% to $104.89 and WTI is up 0.92% to $97.42.