The Paris Stock Exchange lost 95.21 points to 7,220.67 points.

It ends the week down 1.73%, but still gains 11.54% since the start of the year.

The Parisian rating faltered from the opening, in the wake of the Wall Street session on Thursday and failed to recover.

The banking sector suffered particularly, with losses of up to 4.49% for Societe Generale.

In question, the sudden fears of investors about the solidity of the whole sector, after the difficulties encountered by the 16th American bank by the size of its assets, Silicon Valley Bank.

A favorite establishment for start-ups and private equity funds in the technology sector, it has been the subject of massive withdrawals of money by its customers, themselves in difficulty by the rise in interest rates for a year.

After falling 60% on Thursday, the stock was suspended pending further information.

The authorities decided to close it on Friday.

The "snowball" effect on other banks is a bit "exaggerated" because "it is not a generalist bank", however, recalls Céline Weill-Alliel, manager of Uzès Gestion.

The news overshadowed the main release of the day, the monthly US employment data, crucial for the US Federal Reserve to calibrate its monetary policy.

Several elements go in the direction of a more flexible approach of the institution for its next meeting in ten days, in particular "the hourly rate" of salaries "a little lower than expected", mentions Ms. Weill-Alliel.

This element alleviates inflationary pressures.

The unemployment rate has also increased.

However, "the figures of the day are still not going in the direction of the Fed since job creations are vigorous", remarks John Plassard, investment specialist at Mirabaud.

The next key indicator on inflation is the CPI barometer in the United States, due on Tuesday.

The beleaguered banking sector

The biggest drops come from the banking sector, with -4.49% to 25.53 euros per share for Societe Generale, -3.85% to 59.50 euros for BNP Parias and -2.48% to 11.02 euros for Crédit Agricole.

The insurer Axa also lost 2.31% to 29.41 euros.

Other companies whose activity is linked to economic cycles also suffered, such as Legrand (-3.69% to 86.12 euros), or Schneider Electric (-3.35% to 152.32 euros).

Casino struggles to perk up

The distribution group reduced its net loss to 316 million euros over 2022 and its net debt in France to 4.5 billion euros, an amount which remains high.

Casino also announced Thursday evening the signing of an "exclusivity agreement" with a view to getting closer to another player in the distribution, the new Teract group, owner of the garden center brands Jardiland, Gamm vert, Louise bakeries , etc..

Its title lost 5.64% to 8.12 euros.

Over the week, it lost 16.85%, among the worst performances with Euroapi (-29.06%), JCDecaux (-18.69) or even Maisons du Monde (-14.04%), all its companies having disappointed investors during the presentation of their results.

© 2023 AFP