The flagship CAC 40 index rose 47.86 points to 7,432.77 points, landing at its highest closing level since May 23. Over the week, the index gained 0.79%.

"The 7,400 points are a pivotal point", on which the Parisian index has stumbled several times in recent weeks, says Frédéric Rozier, portfolio manager of Mirabaud France.

"Crossing this zone at the close signals a resumption of the uptrend," he continues.

Cheap values were sought during the session, values without which "this crossing can not be done," says Frédéric Rozier.

Next week, investors' attention will turn to the many corporate results, with more than half of the CAC 40 companies.

On the agenda, the publications of American technology giants are expected and "given their weight, they will be dominant," adds Frédéric Rozier.

In addition, markets expect a further increase in the key rate of the US Federal Reserve (Fed) on Wednesday and that of the European Central Bank (ECB) on Thursday.

Technology stocks still lagging

STMicroelectronics dropped 1.11% to 45.71 euros, Cap Gemini 1.19% to 174.20 euros, Dassault Systèmes 0.61% to 40.45 euros, these three companies are also in the red over the whole week, marked by disappointments on the results of American companies related to the sector, such as Netflix, or Tesla.

Thales dropped 4.78% to 133.50 euros after announcing a net profit up 15% in the first half and a slight upward revision of one of its annual financial targets. The company posted the biggest loss of the session on the flagship index.

In aeronautics, Dassault Aviation also fell 8.53% to 166.30 euros after its results for the first half, a period during which the company recorded ten times fewer orders than during the same period in 2022.

Sartorius delights investors

Sartorius Stedim Biotech (SSB), supplier of equipment for the biopharmaceutical sector, has certainly recorded a decline in its activity and profitability in the first half of 2023 due to "temporarily weak demand" but assured that demand should, according to him, "gradually start to rise again in the second half of 2023. The share soared 14.53% to 272 euros, but it remains down 10.08% since January 1.

Safran file Collins Aerospace

Safran wants to acquire the "flight controls" business of the American company Collins Aerospace for an enterprise value of $ 1.8 billion, announced Friday the French engine manufacturer and aerospace equipment manufacturer. Its share grabbed 0.18% to 141.72 euros.

Well-oriented luxury

The luxury giants, heavyweights of the Parisian index, closed higher. Hermès gained 1.88% to 1,915 euros, LVMH 1.63% to 867.90 euros. Close to luxury values, L'Oréal jumped 2.53% to 411.15 euros, recording the largest increase in the CAC 40.

Only Kering ended without a gain (-0.02%) at 541.30 euros but the group is the only one of these four companies to post a gain over the week. It is even the best weekly performance of the CAC 40, including a change announced at the head of its flagship brand Gucci and the arrival in its capital of the activist investment fund Bluebell.

© 2023 AFP