(AOF) – European equity markets closed in the red in the wake of the Nasdaq’s decline. The CAC 40 lost 0.50% to 7,201.14 points, penalized by the weakness of luxury. The Euro Stoxx 50 fell 0.24% to 4,306.17 points. Wall Street is more hesitant. While the Dow Jones gained 0.35%, the Nasdaq lost 0.9% at the end of the day.
Investors took some profits after two consecutive sessions of gains linked to reassuring words from Jerome Powell, the chairman of the Federal Reserve, on growth and inflation.
In this respect, the markets briefly welcomed the sharper-than-expected slowdown in the rise in producer prices in December. They rose by 0.2% against a consensus of +0.4% after +0.8% in November. This deceleration could ward off the risk of more drastic monetary tightening than expected from the Fed.
Another indicator seeming to show that the US economy is moving away from the risk of overheating, new weekly jobless claims rose more than expected (230,000 against a consensus of 200,000 after 207,000 the previous week).
The Paris Stock Exchange was therefore penalized by luxury stocks, which represent more than a quarter of the CAC 40 and which clearly outperformed last year. Tonight, Kering ends the session with a decline of 3.6%, Hermès 3.2% and L’Oréal 2.8%.
Renault, on the other hand, jumped nearly 5%, supported by encouraging prospects, leading Stellantis (+3.45%). Behind, STMicroelectronics (+3.1%) was carried by Credit Suisse, which confirmed its Outperformance opinion, but above all raised its price target from 49.50 euros to 60 euros.
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