(BFM Bourse) – The CAC 40 is moving forward a little this Monday at mid-session, at the dawn of a new week busy with publications.
The CAC 40 is (for the moment) starting the week on the right foot. The Parisian index advanced 0.19% at mid-session this Monday, to 7,511.58 points.
The highlight of the day remains the fall in oil prices. The December contract on Brent from the North Sea lost 6% to 71.15 dollars per barrel while that of November on WTI listed in New York lost 6.1% to 67.42 dollars per barrel.
Oil reacts to evolving tensions in the Middle East. On Saturday, Israel launched an attack on Iran that targeted missile manufacturing facilities while sparing critical sites for oil production, AFP reported.
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This removes the specter of a large-scale conflict which would disrupt the supply of black gold in the region.
“The much-anticipated Israeli airstrikes on Iran moved away from critical oil infrastructure, deflating the geopolitical risk premium that kept oil prices high,” observes Stephen Innes of Spi AM.
Investors are also preparing for a busy week in terms of results. Around ten CAC 40 groups will deliver quarterly results or turnover while in the United States Microsoft, Meta, Apple, Alphabet, Amazon, Intel and Exxonmobil will publish their accounts.
As for French stocks, this Monday, Totalenergies lost 1.5%, the stock being penalized by the decline in oil prices.
Conversely, the fall in black gold prices supports all air transport groups including Air France-KLM, which gained 3%, the fuel bill constituting one of the main expenditure items for these companies.
OPMobility gained 7%, the former Plastic Omnium being driven by the publication of sustained activity in the third quarter.
On the foreign exchange market, the euro gained 0.2% against the dollar to 1.0821 dollars.
Julien Marion – ©2024 BFM Bourse
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