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The Paris Stock Exchange worries about the pace of economic activity

The Paris Bourse ended down 0.56% on Thursday, painfully digesting the sharp slowdown in activity in France and the euro zone in June, even if the good performance of luxury allowed it to limit losses.

The flagship CAC 40 index lost 33.30 points to 5,883.33 points, the day after a drop of 0.81%. The Parisian place, however, does a little better than its counterparts in London (-0.97%) and especially Frankfurt (-1.76%).

“After yesterday’s falls, European markets already looked vulnerable on growing concerns about a global slowdown. These fears were exacerbated after the latest PMI indices,” summarizes Michael Hewson, analyst at CMC Markets.

Growth in activity in the private sector in France markedly stalled in June, falling back to its January pace in the midst of the Omicron wave, according to a provisional index published Thursday by S&P Global.

And in the euro zone, “the slowdown in recorded growth was the most severe since November 2008, i.e. at the height of the global financial crisis”, with the exception of those observed during periods of sanitary confinement, underlined Chris Williamson, chief economist for S&P Global, in a statement.

In luxury, heavyweight on the Parisian coast, LVMH took 2.59% to 566 euros, Hermès 2.07% to 1,035 euros, Kering 0.43% to 490 euros.

Technology was also displayed in green, such as Dassault Systèmes (+2.50% to 35.11 euros), or Teleperformance (+0.50% to 282.70 euros).

Valneva’s vaccine authorized in the EU

The European Medicines Agency (EMA) on Thursday approved the coronavirus vaccine from Franco-Austrian biotech Valneva, which becomes the sixth anti-Covid 19 vaccine recommended for adults in the 27 countries of the European Union.

The action jumped 19.62% to 14.24 euros, continuing the surge of the title this week (+ 79.33%). However, the action still accumulates a deficit of 41.90% compared to its level at the beginning of the year.

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