(BFM Bourse) – The Paris Stock Exchange ends Tuesday's session in the green. The CAC 40 is back above 7,400 points, while the stock markets are in suspense before the result of the presidential election in the United States.
After a fairly indecisive start to the session, the Paris Stock Exchange got into working order. The CAC 40 increased by 0.48%, to 7,407.15 points this Tuesday, awaiting the result of an American election more uncertain than ever.
More than 240 million Americans are being called to the polls to choose, this Tuesday, the next tenant of the White House between Democrat Kamala Harris and Republican Donald Trump. They also must vote on the entire House of Representatives and about a third of the Senate.
“The American presidential race appears very close at the time of writing. The key states are within the margin of error, according to the polls,” note the strategists at Ostrum AM.
“There are significant differences in the policies proposed by Donald Trump and Kamala Harris. Corporate taxes could decrease with Trump but increase if Harris is elected. Taxes on the richest (taxation of capital income and inheritance ) should also increase in the event of a Democratic victory Whatever the outcome of the elections, deficits will remain high but with a risk of increased slippage in public finances under Donald Trump”, they develop.
It is in this context of total uncertainty that investors learned of robust economic data in the United States. Activity in services across the Atlantic rebounded against all expectations in October, with an ISM index which came out at 56 points, against a market consensus of 53.8 points and after 54.9 points in September.
A sub-index relating to prices also gave some relief to the markets, since it stood at 58.1 points compared to 59.4 points in September.
Bouygues on the honor roll of the day
On the value side, Bouygues finished at the top of the CAC 40 (+3.1%) after publishing quarterly results above expectations.
Carrefour gained 0.4% following information from Bloomberg which reported that the distribution group would study various options to increase its value including a sale of its entire capital. Carrefour has not commented on this information and it appears that a takeover of the distributor would be unlikely.
Excluding the flagship index, Air France-KLM lost 1.7%, penalized by a lowering of Morgan Stanley's recommendation to “underweighting”.
Solutions 30 stumbled by 8.75%, punished for having revealed a decline of more than 10% in its turnover in the third quarter.
On other markets, the euro gained 0.4% against the dollar to 1.0918 dollars. Oil is growing. The January contract on North Sea Brent rose 1.4% to $76.16 per barrel while the December contract on WTI listed in New York rose 1.6% to $72.59.
Sabrina Sadgui – ©2024 BFM Bourse
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