The CAC 40 ended at 7,577.00 points, up 38.29 points. Over the week, the French market has gained 0.76% and gained 17% since the beginning of the year, more than its German equivalent, the Dax (+14.1%), and the European Euro Stoxx 50 index (+16.2%).

Investors remain skeptical and cautious about the risk of recession, despite the publication on Friday of good European and French PMI indicators.

In the euro area, private sector economic growth accelerated in April and the index reached its highest level in eleven months, with buoyant services offsetting a decline in manufacturing.

However, "who says growth, potentially says more inflation", which could lead the European Central Bank (ECB) to "continue to raise rates" in the face of inflation "more persistent" in Europe than in the United States, details Benedicte Kukla, CA Indosuez Gestion.

Especially since the "mixed nature" of corporate results "did not really give impetus to the market," according to Sebastian Paris Horvitz, research director of La Banque Postale AM.

The French economy, for its part, recorded "its strongest expansion in almost a year", according to the index published by the agency S&P Global.

Benedicte Kukla highlighted "the scale of services", which shows "a post-Covid momentum" still intact.

At the same time, however, "the contraction of the manufacturing industry that began in mid-2022 continued during the month," notes S&P Global. The manufacturing index was disrupted by strikes against the pension reform.

Hermès jumps the 2,000 mark

Luxury remained sought after and the Hermès share was worth more than 2,000 euros for the first time in its history, after a rise of 0.37% to finish at 2,003.50 euros.

Global optical giant EssilorLuxottica jumped 6.27% to 186.52 euros, a day after the publication of a revenue up sharply in the first quarter and above analysts' forecasts.

L'Oréal also benefited (+3.04% to 442.60 euros) and LVMH ended at 901.10 euros (+0.51%).

Lead in ArcelorMittal's wing

Steelmaker ArcelorMittal dropped 3.83% in the wake of the sector, penalized by the fall in the price of a ton of iron, which closed Friday at $ 117.41 in Singapore after touching, at $ 116.50 a tonne, its lowest since early January.

According to CBA analysts, prices continue to "struggle to fall sustainably below the $120 per tonne mark".

© 2023 AFP