The CAC 40 experienced renewed volatility today on the Paris Stock Exchange. Particularly after the publication of poor employment figures in the United States (across the Atlantic, there were only 99,000 job creations in the private sector in August, much less than the 144,000 expected and after 111,000 job creations in July, which is fueling new fears about the trajectory of household consumption and the pace of economic growth in the United States) and the surprise appointment of Michel Barnier as the new Prime Minister, replacing Gabriel Attal.
While the CAC 40 continues to move between fairly narrow limits (at the time of writing), in detail, some stocks in the flagship index of the Paris Stock Exchange are nevertheless doing well, benefiting from the appointment of a Prime Minister from the traditional right. These include banking stocks (Société Générale, BNP Paribas and Crédit Agricole), which are seeing the spectre of possible exceptional taxes on profits (advocated by extremist parties) and a surge in long-term rates recede (the extremist parties’ programmes being more spendthrift, they raise fears of excesses in public finances, if they were to be implemented).
Shares in the audiovisual sector (TF1 and Métropole Télévision, known for its M6 channel) are also jumping, a potential privatization of France Télévisions (desired in particular (…)
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