周五，CAC 40指数微涨至7941点，受开云、圣戈班、意法半导体和Edenred等公司强劲表现的推动，这些公司的涨幅均超过2%。行业巨头路威酩轩和爱马仕国际也上涨了2%，欧莱雅以0.7%的涨幅紧随其后。然而，法国兴业银行（Societe Generale）股价大幅下跌超过5%，原因是对第一季度盈利令人失望的担忧，尤其是与净息差对冲有关。此外，Stellantis NV和达能分别下跌4.3%和3.1%。在其他企业新闻中，法国农业信贷银行第一季度净利润增长55%，超出预期，而罗格朗公布的第一季度业绩则令人失望。市场情绪受到最新美国就业报告的影响，该报告表明劳动力市场放缓，以及对美联储早些时候降息的猜测增加。CAC本周下跌1.8%。

The CAC 40 index edged up to 7,941 on Friday, driven by strong performances from companies like Kering, Saint-Gobain, STMicroelectronics, and Edenred, which all saw gains of over 2%. Industry giants LVMH and Hermes International also rose by 2%, with L'Oréal not far behind with a 0.7% increase. However, Societe Generale saw a significant decline of over 5% amid concerns following disappointing Q1 earnings, particularly related to net interest margin hedging. Also, Stellantis NV and Danone fell by 4.3% and 3.1%, respectively. In other corporate news, Credit Agricole surpassed expectations with a 55% increase in Q1 net profit, while Legrand reported underwhelming Q1 results. Market sentiment was impacted by the latest US jobs report, indicating a slowdown in the labor market and increasing speculation of earlier interest rate cuts by the Fed. The CAC experienced a 1.8% decline throughout the week.

法国10年期OAT收益率降至3%，创下周新低，此前美国就业报告弱于预期，促使市场预计美联储将提前降息。4月份美国非农就业人数增长17.5万人，明显低于预期的24.3万人，是六个月来就业增长最慢的一次，而失业率意外上升至3.9%。这表明紧缩的货币政策可能会给美国劳动力市场带来压力。再加上美联储主席鲍威尔在本月早些时候的温和言论，这些数据将市场预期转向了9月而不是11月的潜在降息。与此同时，在欧洲，整个欧元区稳定的通货膨胀和强劲的GDP增长表明，欧洲央行可能会在6月的会议上降低其关键利率。

The French 10-year OAT yield declined to the 3% level, hitting a new weekly low, after a weaker-than-expected US jobs report prompted markets to anticipate early rate cuts by the Federal Reserve. April's US non-farm payrolls grew by 175,000, notably lower than the expected 243,000 increase and marking the slowest job growth in six months, while the unemployment rate unexpectedly rose to 3.9%. This suggests that tight monetary policy may be putting strain on the US labor market. Coupled with Federal Reserve Chair Powell's somewhat dovish remarks earlier in the month, these data have shifted market expectations towards a potential rate cut in September instead of November. Meanwhile, in Europe, stable inflation and strong GDP growth across the Eurozone indicate that the European Central Bank is likely to lower its key interest rates at the June meeting.

CAC 40指数周五上涨约0.5%，收于7958点，追随美国同行，因投资者消化了最新的美国就业报告和企业报告。美国公司在4月份减少了招聘，失业率意外上升，这表明劳动力市场出现了一定程度的放缓，有利于美联储的政策放松。在企业方面，Edenred（上涨3%）、Saint-Gobain和STMicroelectronics（各上涨2.6%）领涨。法国农业信贷银行第一季度净利润大幅增长55%，推动其股价上涨1.1%，令分析师感到意外。奢侈品巨头路威酩轩、开云和爱马仕也表现不俗。与此同时，法国兴业银行（SociétéGénérale）盘中飙升至6.1%，下跌5.2%，原因是分析师在第一季度盈利公布后提出担忧，尤其是净息差对冲。Legrand在第一季度业绩令人失望后下跌2.4%。CAC 40指数本周将下跌约1.3%。

The CAC 40 rose about 0.5% to close at 7,958 on Friday, tracking its US peers, as investors digested the latest US jobs report and corporate reports. American companies reduced hiring in April and the unemployment rate surprisingly increased, suggesting a certain slowdown in the labor market, favorable to the Fed's policy loosening. On the corporate front, Edenred (+3%), Saint Gobain and STMicroelectronics (+2.6% each) led the gains. Credit Agricole surprised analysts with a remarkable 55% surge in Q1 net profit, propelling its shares up by 1.1%. Luxury giants LVMH, Kering and Hermes also performed well. Meanwhile, Société Générale, which surged up to 6.1% during the session, declined by 5.2%, following concerns raised by analysts after the publication of Q1 earnings, particularly regarding net interest margin hedging. Legrand saw a 2.4% decline following disappointing Q1 results. The CAC 40 is set to drop about 1.3% this week.

CAC 40指数周四下跌0.88%，收于7914点，创下2月份以来的最低点。这一下降是在周中假期之后发生的，受到美联储最近政策决定的影响。Stellantis股价下跌4.17%，跌幅居前，STMicroelectronics股价下跌3.61%，TotalEnergies股价下跌2.42%，Axa股价下跌1.85%。在经济新闻方面，法国4月制造业PMI降至45.3，略高于初步数据44.9，这是自1月以来的最快降幅。美国央行维持利率不变，暗示在通胀数据令人失望的情况下推迟降息。主席鲍威尔驳斥了可能的加息，声称目前的政策立场足以将通胀率引导回到目标水平。

The CAC 40 fell by 0.88% to close at 7,914 on Thursday, hitting its lowest point since February. This drop followed a midweek holiday and was influenced by the US Federal Reserve's recent policy decision. Stellantis led the decline with a 4.17% drop in its shares, followed by STMicroelectronics down 3.61%, TotalEnergies down 2.42%, and Axa losing 1.85%. In economic news, France’s manufacturing PMI fell to 45.3 in April, slightly up from the preliminary reading of 44.9, marking the fastest decline since January. The US central bank maintained its interest rates unchanged, hinting at delayed rate reductions amidst disappointing inflation figures. Chair Powell dismissed a possible rate hike, asserting that the current policy stance is sufficient to guide inflation back to the target level.