Cac 40: Donald Trump's latest offensive on customs duties worries the CAC 40 which is in decline

Tuesday 26th November 2024 08:22 AM

(BFM Bourse) – The Parisian index is down at mid-session, cooled by the words of Donald Trump who threatens to increase customs duties on products coming from China, and to impose them on those imported from Canada and Mexico.

The Paris Stock Exchange is giving in to the downward call. The CAC 40 lost 0.25%, to 7,239.27 points, this Tuesday at midday, under pressure after new declarations from Donald Trump on an increase in customs duties which would be effective as soon as he takes office in January.

He wants to impose customs duties of 25% on all products from Mexico and Canada and increase those for products imported from China by 10%. Donald Trump justifies these trade retaliatory measures in retaliation for illegal immigration, and drug trafficking and in particular Fentayl, a powerful opioid which is wreaking havoc in the United States.

This threat weighs on Stellantis which shows the biggest drop in the Parisian index (-4.4%) since the automobile manufacturer produces vehicles intended for the American market in its factories located in Mexico.

On the statistical front, investors will read the consumer confidence index (Conference Board) at 4:00 p.m. and the traditional Minutes of the American Federal Reserve at 8:00 p.m.

Amundi still under pressure

On the value side, Trigano is up more than 3% supported by its annual results, which are notably marked by a “record” annual operating result.

Amundi lost 4.1%, penalized by JP Morgan and Exane BNP Paribas who lowered their recommendation to neutral on the stock, citing uncertainties linked to distribution in Italy with the UniCredit and Banco BPM merger project, according to information from Reuters.

Lighton limits its progress to 1.5% after having gained more than 8% for its first steps as a company listed on Euronext Growth.

On the foreign exchange market, the euro increased by 0.7% against the dollar to 1.0516 dollars. On the oil side, the January contract on Brent from the North Sea rose by 0.9% to 73.14 dollars per barrel while that of the same maturity on WTI listed in New York also gained 0.9% to 69 .59 dollars per barrel.