Around 9:45 a.m., the featured CAC 40 index was stable (-0.02%) at 6,759.91 points.

Over the week, it rose by 4.42%, its best weekly performance since the end of March 2022.

"We had a start to the year where risk-taking dominated and long-term rates eased. (...) we believe that a less deteriorated economic situation than expected in the euro zone, helped by aid massive budgets and a falling gas price has contributed to changing the perception of short-term market operators", describes Sebastian Paris-Horvitz, director of research at Banque Postale AM.

Among the positive signals retained by investors, the fall in gas and oil prices, but also the slowdown in inflation observed in December in France and Germany.

The data for the euro zone will be published at 11:00 am, at the same time as those for retail sales.

However, it is "difficult to think that the market can withstand a deterioration in the future economy", and in particular with the planned rate hikes by central banks, believes Mr. Paris-Horvitz.

The US Federal Reserve (Fed) is particularly at the center of attention, with its interpretation of the employment figures in the United States, which will be published at 2:30 p.m. Paris time.

An overly tight labor market, with a low unemployment rate and wages continuing to rise rapidly, would therefore not be seen as good news, as this will encourage the Fed to maintain an aggressive posture with sharp rate hikes in the next few months and no decline in 2023.

Among economic indicators already released on Friday, household consumption in France rebounded slightly in November, rising 0.5% after a sharp 2.7% drop in October, driven by higher spending on manufactured goods, reported INSEE.

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.

This did not prevent the title from suffering the strongest decline in the broader SBF 120 index, falling 3.54% to 87.17 euros, dragging with it Derichebourg (-2.47% to 5.73 euros), which rose to its capital.

Elior also fell 1.53% to 3.65 euros.

© 2023 AFP