In this first week of January, the star CAC 40 index rose by 5.98%, its best weekly performance since the end of March 2022. The Parisian rating had lost 9.5% over the whole year.

Thus ends "a week where European markets want to be rather optimistic and want to see the good news in the reopening of China, positive for growth and in energy prices which are falling", explains to the AFP Clémence de Rothiacob, manager at Richelieu Gestion.

"So far the good statistics had been rather negatively viewed by the market" but this time investors preferred, according to her, "to see the glass half full" in a lot of "contradictory signals".

US jobs figures for December showed wage growth at the lowest since August 2021, which could lead the Federal Reserve to ease its monetary tightening.

Economic activity in services contracted in December in the United States, for the first time since May 2020, after stronger-than-expected growth the previous month, a data also pointing in the direction of a central bank less aggressively, as the country could experience a recession in the coming months.

Markets priced the risk “not so much to monetary policy but to growth,” seeing the resilience of the U.S. labor market as news that “deflects the risk of a recession” rather than news that “should increase the probability that the Fed will remain tough," said the expert.

For the coming weeks, "what will really play is the tone of the Fed" after the publication of the consumer price index for December in the United States expected Thursday.

Luxury in all its glory

As for values, luxury and raw materials have done well this week: LVMH, Hermès and Kering have signed a weekly jump of more than 10%.

Steelmaker ArcelorMittal jumped nearly 10%.

The defensive sector has lagged.

Sodexo better but not enough for the market

The collective catering and services group Sodexo reported on Friday a “strong start” to its activity in the first quarter of its staggered 2022/2023 financial year and maintained its forecasts.

The title fell 1.19% to 89.30 euros.

Airbus confirms interest in Atos activities

Airbus Executive Chairman Guillaume Faury confirmed on Friday "to reflect on the future of relations with Atos", a few days after the publication of press reports indicating the European aircraft manufacturer's interest in the activities of IT group cybersecurity.

The title of Atos, which has varied a lot on speculation of takeovers of activities lately, jumped by more than 20% this week, took 1.16% on the session and almost 5% on the week.

© 2023 AFP