(BFM Bourse) – The Paris Stock Exchange is up at mid-session this Monday. The CAC 40 is making its return above 7,400 points in low volumes on this Armistice Day which is a public holiday, but not a day off on the Paris Stock Exchange.
The Paris Stock Exchange is starting the week off on the right foot. The CAC 40 increased by 1.1%, back above 7,400 points, to 7,424.78 points, recovering for the moment a little more than the ground conceded last week (-0.95%).
The Parisian market found inspiration from Wall Street, which ended the previous week on a euphoric note. On Friday, the Dow Jones and the S&P 500, for the first time during the session, exceeded the threshold of 44,0000 and 6,000 points respectively, supported by the prospect of tax cuts and deregulation for businesses.
“Donald Trump's economic program includes numerous measures to extend tax cuts for households and businesses, defense spending, support measures for real estate and health, etc., which total more than 10,000 billion dollars over 10 years The positive annual impact on growth would be around 0.4%”, estimated Friday, Vincent Guenzi, Director of investment strategy at Cholet Dupont Oudart.
A busy macroeconomic calendar
Unsurprisingly, this rise in the flagship Parisian index is taking place in low volumes (645 million euros traded since the opening), on this Armistice Day which is a public holiday, but not a day off on the Paris Stock Exchange. .
The Paris Stock Exchange is therefore regaining some color at the dawn of a week rich in economic indicators. Investors will learn from Tuesday the German Zew consumer confidence index for November, followed on Thursday by industrial production for September and the second estimate of third-quarter GDP for the euro zone.
In the United States, operators will also be attentive to price data, with the CPI inflation index for October on Wednesday, followed the day after by the PPI producer price index, still for October, on Thursday .
Note that the new economic recovery measures announced by Beijing at the end of the week have not completely convinced investors. The Hong Kong Stock Exchange, for example, lost 1.45%. And it is in this difficult context for consumption in China that operators will scrutinize the purchasing figures for Singles' Day, which is marked by a period of intense promotions.
A generally dull earnings season for CAC 40 companies
On the values side, the news is becoming calm again after an intense season of third quarter results for residents of the CAC 40. Overall, the results that emerge are mixed, even bad, with an average stock market performance of -0.96 % following publications by groups of the Parisian stock market elite.
The rebound of the CAC 40 on Monday is led by industrial stocks, Saint-Gobain occupies the head of the flagship Parisian index (+3.4%), followed by STMicrolectronics (+2.6%). Schneider Electric completes the podium, with an increase of 2.5%, little affected by the computer attack which the group suffered last week, and which was confirmed this Monday.
On the foreign exchange market, the euro lost another 0.5% to $1.066, its lowest since last June, still weakened by the strength of the greenback. As for oil, it is falling. The January contract on North Sea Brent lost 1.7% to $72.65 per barrel while the December contract on WTI listed in New York lost 1.9% to $69.04 per barrel.
Sabrina Sadgui – ©2024 BFM Bourse
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