The Paris Stock Exchange ends its worst week in two months

The Parisian rating started in the red, a trend which increased after the publication of the report on employment in the United States. The CAC 40 lost 4.22% over the week.

The Paris Stock Exchange closed sharply down 1.73% on Friday, still tormented by the risks of recession and monetary tightening by central banks, and thus ends its worst week since the start of the conflict in Ukraine. The flagship CAC 40 index fell 110.04 points to 6258.36 points, its lowest closing level since March 11. Over the week, it lost 4.22%, its worst drop since early March and the premises of the war in Ukraine. Since 1er January, it lost 12.51%. The Parisian rating started in the red, a trend which increased, not without volatility, after the publication of the employment report in the United States at 2:30 p.m. GMT. “The psychology of the market is clear, it’s been a long time since the level of pessimism has been this highcommented Franklin Pichard, Managing Director of Kiplink Finance.

China weighs down luxury and JCDecaux

As voices pleaded in recent months for an easing of restrictions, President Xi Jinping called on Thursday to continue the zero Covid policy and “fight resolutely” all that “bring back into questionthis strategy, according to the New China agency. Companies that export to China, such as Pernod Ricard (-5.29% to 182.55 euros), Hermès (-3.16% to 1,042 euros), Kering (-2.76% to 457.90 euros), continued to be under pressure. The three CAC 40 luxury companies are in the four worst stocks of the week and have lost around 10%. The display giant JCDecaux has announced that it expects a slowdown in its growth over the rest of the financial year due to repeated confinements in China. It fell 10.26% to 17.24 euros.

SEE ALSO – Covid in China: Beijing residents say they are ‘well prepared’ for rising cases


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