The Paris Bourse ended slightly in the red (-0.39%) Friday, showing a certain prudence vis-à-vis the epidemic linked to the new coronavirus, which however did not prevent the Parisian market from temporarily resuming its highs annual this week.
The CAC 40 index fell 23.7 points to 6,069.35 points, in a trade volume of 3.5 billion euros. The day before, it had ended in slight decline of 0.19%.
Over the past week, it has gained 0.66%. Since January 1, it has increased by 1.53%.
The Parisian odds started to break even before tilting slightly into the red.
“Yesterday, we had not necessarily positive news around the coronavirus, which is still the main catalyst today, with a number of infected having increased” due to a change in methodology, stressed to AFP Andrea Tuéni, an analyst at Saxo Bank.
China announced more than 15,000 additional coronavirus infections on Thursday. A record leap due to a new, broader definition of infection, depicting a more serious epidemic than reported so far.
On Friday, the latest death toll said 1,400 died in China, where authorities said six health workers had died. Nearly 64,000 cases of contamination have now been recorded in the country, including at least 1,716 among doctors and nurses working in contact with the sick.
There is certainly “a perhaps a little more cautious approach” on the markets due to the Covid-19 epidemic “but despite everything, they are resistant to all bad news”, added Mr. Tuéni .
“There is a lot of serenity and distance in the markets that have never panicked” or experienced “violent downward movements” since the start of this crisis, he noted.
Moreover, “overall, the results of companies are positive” and “everything that is macroeconomics and microeconomics”, although “relegated to the background”, serves “to support the market”, according to him.
In terms of indicators, in Germany, GDP stagnated in the fourth quarter of 2019.
Overseas, industrial production fell again in January (-0.3%), weighed down by the halt in production of the Boeing 737 MAX, but consumer confidence improved further in February, contradicting expectations of analysts, according to the preliminary estimate from the University of Michigan investigation.
US retail sales rose 0.3% in January compared with December, largely driven by the construction sector.
– EDF at the party –
In the field of values, the Parisian rating has made the wide gap between publications well or badly perceived.
Renault finally fell by 0.90% to 34.50 euros, penalized by the announcement of its first net loss in ten years, even if the title momentarily recovered during the session, reassured by words from the Acting Director General, Clotilde Delbos.
EDF jumped conversely by 9.68% to 12.87 euros, driven by net profit multiplied by more than four in 2019, inflated in the accounts by financial results linked to the good performance of the financial markets.
TF1 rose 5.97% to 7.37 euros, powered by net profit for 2019, up 21.5% year on year, despite a lackluster year for its advertising activity from TV antennas.
Tarkett benefited (+ 11.20% to 14.30 euros) from a publication in line with expectations and from an expected improvement in its profitability in 2020, despite a net profit reduced by 20% in 2019, penalized by a difficult year in North America.
Eutelsat fell 6.50% to 12.29 euros after a 6.4% drop in net profit over the first six months of its lagged fiscal year.
Crédit Agricole lost 1.17% to 13.49 euros despite a net profit up 10% last year, inflated by a reversal of provisions of more than a billion and a good general performance in the last quarter.
Technicolor was mechanically ballasted (-20.7% to 0.54 euro) by a capital increase of 300 million euros, thanks to which the group which has accumulated losses for several years hopes to give itself some air.