(BFM Bourse) – The Paris index lost ground at mid-session this Thursday while awaiting new indicators on the American labor market.
The CAC 40 is set to go down for a third consecutive session. At mid-session this Thursday, the flagship index of the Paris Stock Exchange fell 0.67% to 7,450.38 points, falling back below 7,500 points.
“The European and American markets are moving with a certain caution, with operators not being certain that the selling movement that began a few days ago is still relevant, as the main economic indicators have not yet been published,” underlines Naeem Aslam of Zaye Capital.
Investors are awaiting the release this afternoon of statistics on new weekly jobless claims in the United States as well as the ADP employment survey, an imperfect prelude to the official report that will be published Friday afternoon.
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Air Liquide backs down
For the time being, the CAC 40 is mainly weighed down by the decline in the luxury sector. LVMH (2.7%) and especially Hermès (-5.8%) are losing ground.
“At the moment, the tide is clearly against this sector, and the selling news from China is not good. Every day a new stock suffers particularly and today it is Hermès which had resisted well until now,” explains an analyst of the sector.
Outside of luxury, Air Liquide lost 2.3%, weighed down by a downgrade in recommendation from Morgan Stanley, which went from “in line weighting” to “underweighting”.
On the contrary, Edenred progressed by 2.4% helped by Morgan Stanley which went from “in line weighting” to “overweighting” on the title.
Outside the CAC 40, GL Events and Biomérieux gained 13.8% and 2.9% respectively after publishing their first-half results.
On other markets, the euro gained 0.1% against the dollar to $1.11. Oil advanced. The North Sea Brent contract gained 0.4% to $73.02 a barrel, while the WTI contract listed in New York gained 0.3% to $69.39 a barrel.
Julien Marion – ©2024 BFM Bourse
