Investors have long been reluctant to give clear direction to the Cac 40. The session was moderated mainly as first Friday of every month, the monthly employment figures. In January, the decline in the unemployment rate to its lowest level in eight years and the relaunch of hourly wages were the key elements of this publication.
In Paris, the first reaction of investors was selling in equity markets. In fact, the CAC 40 has erased some gains made in the morning, even to lose 0.35%. Now these figures, which contain elements that can push for a continuation of a rate hike, instead explicitly revived the dollar income of 1.12 to a low of 1.1113 dollar, which immediately cheered the European indices. But it is, as so often, US markets that have decided the direction of the indices.
These employment figures are a reminder to the market that this year’s rate hikes are possible again, then the scenario of a year “without” beginning to join a growing number of operators. “ The 0.5%, higher than expected, hourly wages [...] and the decline in the unemployment rate to 4.9%, the lowest of eight, are a warning against certain there will be no increase in rates in March, , “said Mohamed El-Reuters Rian, chief economist at Allianz, California. And Aaron Kohli, BMO Capital Markets, this shows that “ detail of Statistics is solid and it proves that the return of inflation is possible in the United States .”
in detail, the US economy, full employment, has created fewer jobs than expected in January, only 151,000, against 190,000 expected by the consensus. The 292,000 jobs in December were also revised down to 262,000. The unemployment rate down 0.1 percentage points, to 4.9% against an anticipated stability, while the participation rate was nevertheless improved slightly (+0.1 point to 62.7%). For their part, hourly wages increased more than expected, by 0.5% over the month, against + 0.3% expected and 2.5% YoY (2.2% expected).
at the close, the Cac 40 was down 0.66% to 4200.67 points in business volume of 4.87 billion thanks mainly to trade registered on BNP Paribas (9% of the volume of the Cac 40 before Sanofi and Total), fifth capitalization of the square, and the results are now greeted by the market. It also provides a breath of fresh French banks after their tumble of the week.
The Cac 40 lived five delicate sessions, giving up 4.90% over the period. Especially, he began February with a bad note, as in January (-6.54%). The Paris index hit a shot cleared on the 4400 and 4300 issues under the combined pressure of the European banking sector of the euro pushed Thursday against the dollar and the oscillations of raw materials, oil in mind.
Elsewhere in Europe, the FTSE coward 0.85%, the Dax in Frankfurt Stock Exchange 1.27% and the Euro Stoxx 50 of the main values of the eurozone 0.94%.
on Wall Street, the Dow Jones was down 1.17%, the S & amp; P 500 1.66% and the Nasdaq Composite 2.70%
the bank behind BNP Paribas, Arcelor fall
BNP Paribas takes 1.49% to 41.57 euros after a gain of 5.60% at the highest of the day. If the bank has seen its move results in the fourth quarter (net income has shrunk by 52%, more than expected, at 665 million euros, for net banking income up 3% at 10.45 billion) the market appreciates the announcement of a restructuring of its investment banking division. The accounts for the last quarter of 2015 bear the scars exceptional impairment losses totaling 993 million euros, mainly related to its Italian subsidiary BNL.
In its wake, Societe Generale takes 0.41% to 32.11 euros, Credit Agricole 0.39% to 8.644 euros, non-index, Natixis to advance 2.76% 4,277 euros. For the week, the banking sector was particularly affected by the difficult situation of Italian institutions, disappointing results from UBS and Credit Suisse and a negative note from JP Morgan. In this context, BNP Paribas gives up 4.92% in five sessions, Credit Agricole 6% and Societe Generale 8.73%.
Vinci takes 0.76% to 60.75 euros. The construction group and concessions saw its net income fell 17% in 2015 due to the gain on open sale on Vinci Park last year but climbing more than 10% excluding this benefit. It provides for 2016 a possible slight decrease in sales on a comparable structure, but already expects an increase in operating profit and net profit.
Conversely, ArcelorMittal lost 5.53% to 3,484 euros. The steelmaker announced it intends to proceed with a capital increase of $ 3 billion (€ 2.7 billion) to reduce debt in an unfavorable context for the steel and mining sectors. In 2015, the gross operating profit (EBITDA) fell 32% to $ 5.2 billion
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