The Paris Bourse has continued to widen its losses on Friday. After an opening down 1.19%, the CAC 40 slipped 3.5% in response to the publication of U.S. employment figures earlier this afternoon. Then the index was down enccore in the red, losing up to 4% just before 17 hours. Finally, the CAC shows a significant decrease of 3.59% to 3148.53 points. No value of CAC has been able to climb into the green on Friday. For the week, however, the Cac 40 shows a gain of 1.97%.
Elsewhere in Europe, the Milan Stock Exchange closed on a fall of 3.89%. In Frankfurt, the Dax lost 3.36% at the final bell and the FTSE in London fell by 2.34%.The European indexes have been sealed by banking stocks, which still suffer from concerns over European debt, including the stalled talks in Greece.
Thus, investors have been cooled by zero job creation in August in the United States. In July, the first estimate of recruitment was greatly scaled down from 117,000 jobs created to 85,000. The unemployment rate remained steady at 9.1%, as expected. "The labor market is expected to remain sluggish in the medium term and the unemployment rate should rise slightly or remain at its current high level" of 9.1%, says Inna Mufteeva at Natixis.This publication reinforces the eyes of experts, the probability of a new monetary response from the U.S. Federal Reserve at its next meeting on September 20 and 21.
In addition to the waits before publication of the report, traders were disappointed by yesterday's U.S. indexes mixed. The weekly jobless claims have fallen and certainly the contraction was avoided in the manufacturing sector, but construction costs and productivity plummeted. In addition, the White House confirmed the pessimism about the weakness of the recovery across the Atlantic in scaling back its growth forecasts.
Euro stable
On the foreign exchange market, around 17:30, the euro 1.4207 dollars, against 1.4260 on Thursday, its lowest level in three weeks.Yesterday, the euro had fallen sharply under the impact of renewed concerns vis-à-vis the health of the euro area, where industrial activity contracted in August, unlike the United States.
In France, higher energy costs caused a 0.5% increase in producer prices in July in the euro area, as expected, but overall inflationary pressures subside to the extent that the area economy patina.
The bank collapse
Fear seizes even Greek European banks. The establishment of a second aid plan seems to be complicated. The troika of creditors of Greece left Athens Friday, giving the government 10 days to advance structural reforms in the country, weighed down by a recession that will prevent it from holding its budget savings target.In Paris, Crédit Agricole fell 7.38% to 6.65% Societe Generale, BNP Paribas and Axa of 6.24% to 5.73%.
Arcelor-Mittal: -6.10% to 14.17 euros
The group plans to resort to short in the fourth quarter at its plant in Florange (Moselle), and will ask 600 of the 3,000 employees of the plant to take RTT in September, officials said Thursday a union source
Total: -2.69% to 33.40 euros
The oil will extend all over France its network of service stations at low prices, after tests conducted last year in dozens of outlets, according to Les Echos.
France Telecom: -2.37% to 13.17 euros
The operator has received numerous expressions of interest for its Swiss division, told Reuters CEO Stéphane Richard, noting that financial market volatility would not affect projects sales of assets of the group.
Bouygues: -2.14% to 25.61 euros
The Standard & Poor's announced that it placed the long-term rating of A-group under review with negative implications following the announcement by him of a proposed acquisition of securities.
Sanofi: -3.25% to 49.75 euros
The group confirmed Thursday it has reached an agreement with Pfizer to produce in France generic versions of Lipitor, the cholesterol featuring the American group.
EDF: -3.23% to 20.95 euros
Goldman Sachs has revised down its price target on the title, which goes from 49 to 31 euros, while remaining on the purchase value.
Carrefour: -2.83% to 17.66 euros
HSBC lowered its recommendation to "overweight" to "neutral" and target price of 30.50 to 20 euros.
Stallergenes: – 0.81% to 49 euros
The laboratory of immuno-allergic Thursday announced a net profit up 18% in the first half to 23.7 million euros, benefiting from the "business growth" and a "moderate increase spending research and development. " In the process, Oddo is to reduce its recommendation to neutral.
Safran – 2.77% to 27.05 euros, Suez Environnement: -4.23% to 11.09 euros
Saffron is the best candidate for an entry in the CAC 40, while Suez Environnement, whose price has fallen heavily since the beginning of the summer, should come out, say professionals in the Paris Bourse.
Nyse Euronext – 1.93% to 18.56 euros
The London Stock Exchange has confirmed a press report that it is discussing a possible settlement with LCH.Clearnet.Discussions are at a preliminary stage and there is no guarantee that it would, he said.
Neopost: + 10.39% to 56.30 euros
The group raised its forecast of annual sales for the second time, following an accelerated growth in the second quarter, thanks to the dynamics of North America.