(BFM Bourse) – The CAC 40 is trading close to breakeven mid-session this Wednesday, with the market awaiting certain meetings, including the publication of the PCE index in the United States on Friday.
The Paris Stock Exchange is returning to wait-and-see mode. The CAC 40 dropped 0.26% mid-session to 7,6542.06 points. “While the macroeconomic calendar is quite light this week, the markets are awaiting the elections in France this weekend. The polls are stable and the main parties have presented their programs,” notes Xavier Chapard, strategist at LBPAM.
“However, the outlook remains unclear regarding the direction the country will take after the legislative elections. (…) Market questions regarding budgetary balances, but also future economic measures, continue to put pressure on French assets The rate gap between French and German sovereign bonds (10 years, editor’s note) has narrowed slightly this week but remains high, around 75 basis points (0.75 percentage points),” he explains. .
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Sanofi in the green
The market is also awaiting the publication, on Friday, of the PCE index in the United States, the preferred gauge of the American Federal Reserve to measure inflation.
On the value side, variations remain fairly contained on the CAC 40. Eurofins is moving up a little further (+4.2%) after losing more than 16% on Monday following the attack by short seller Muddy Waters, whose allegations were refuted by the company.
Sanofi takes 0.2% while, according to Bloomberg, the company has launched a call for tenders on its consumer health division for a direct sale. At the same time, the pharmaceutical group continues to prepare a potential IPO for this activity.
On other markets, the euro fell 0.3% against the dollar to 1.0686 dollars. Oil is rising a bit. The August contract on Brent from the North Sea advanced 0.9% to 84.95 dollars per barrel, while that of the same maturity on WTI listed in New York gained 0.9% to 91.56 dollars per barrel. barrel.
Julien Marion – ©2024 BFM Bourse
