(AOF) – The day after a nice upturn, the European stock markets started to fall again on Friday. Thus, the CAC 40 lost 0.61% to 6,559.99 points and the EuroStoxx 50 lost 0.47% to 4,079.16 points. However, over the past week, these indices recorded respective gains of 0.65% and 1.05%. With the approach of mid-session, Friday, Wall Street evolves in dispersed order: the Dow Jones gained 0.12% while the Nasdaq Composite lost 0.17%.
The Old Continent markets moved on a cautious note during the morning, with investors showing some excitement ahead of the publication of US monthly jobs.
This statistic turned out to be much lower than economists’ expectations. Indeed, 194,000 jobs were created in September in the United States, while the consensus expected 500,000, after 366,000 in August.
Paradoxically, this bad news for the US economy allowed the indices to recover for a while, because it could cause the Fed to reconsider the timing of the reduction in its asset buybacks and / or postpone a future hike in key rates. This stimulating effect wore off afterwards, however.
Over the week as a whole, bank stocks benefited from the rise in bond yields, like Crédit Agricole (+ 8.6%), Société Générale (+ 4.8%) and BNP Paribas (+3 , 8%).
The opposite was true for technology stocks which fell again, like Dassault Systèmes (-1.9%) and Capgemini (-3.5%).
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