(BFM Bourse) – The Paris Stock Exchange begins the week on a good note, supported by its luxury sector. The CAC 40 ended up 0.46% Monday evening, to get closer to 7,600 points.
The Paris Stock Exchange revived a little this Monday after having lost 3.2% last week. The CAC 40 rose 0.46% to 7,576.02 points, supported by its luxury sector which stands out while awaiting potential new recovery measures in China.
On the Paris Stock Exchange this Monday, luxury values rose in anticipation of potential announcements on Tuesday. The biggest increase in the CAC 40, Kering rebounded by 4.6%, followed by LVMH which increased by 2.7% when Hermès recovered by 1.1%.
The good performance of this important sector has thus enabled the Paris Stock Exchange to be protected from a new increase in tensions on the bond market. The employment figures published at the end of the week in the United States are leading investors to reassess their expectations on the extent of the next rate cut by the American Federal Reserve in November.
“US employment was much stronger than expected in September, implying that the Fed will almost certainly reduce the size of its rate cuts from 50 basis points (0.5 percentage points) in September to 25 basic points during its next meetings, as we anticipated”, writes Xavier Chapard of LBPAM.
The barrel of Brent on 80 dollars
The yield on the 10-year American bond is moving above 4% for the first time in two months at 4.022% compared to 3.98% on Friday. The yield on French debt of the same maturity remains at 3%, at 3.021%.
Caution also dominates trade on the other side of the Atlantic awaiting inflation data at the end of the week, namely the consumer price index on Thursday and the producer price index on Friday. .
The market continues to keep an eye on the situation in the Middle East. The December contract on Brent from the North Sea increased by 3.3% back above 80 dollars for the first time since the end of August to 80.61 dollars while that of November on WTI listed in New York gained 3. 5% to $76.98 per barrel. This benefited Totalenergies, whose price increased by 1% to 63.28 euros.
Excluding CAC 40, Rubis gained 3.5% after announcing a share buyback program which will cover a maximum of 1 million shares and a ceiling price of 50 euros per share.
Bonduelle ended up 1.3%, after announcing its annual results.
On other markets, the euro gained 0.1% against the dollar to 1.0976 dollars.
Sabrina Sadgui – ©2024 BFM Bourse
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