(News Bulletin 247) – The Paris Stock Exchange should start slightly higher on Tuesday morning, pending the reopening of Wall Street closed on Monday and whose orientation could give direction to the market.
Around 8:15 a.m., the futures contract on the CAC 40 index – June delivery – advanced 13 points to 7289 points, signaling a modest increase in the start of the session.
The Paris market had closed the previous day’s session with a limited decline of 0.2%, around 7,303 points, after a Pentecost Monday marked by very narrow volumes in the absence of New York, but also the London Stock Exchange.
With no economic indicator on the agenda, the day turned out to be particularly calm with few notable movements in terms of valuation on the main asset classes.
Investors should keep this waiting position today before the reopening of Wall Street, especially as the day looks poor in statistics.
In Europe, only the latest inflation figures for Spain will be released, which will provide a first indication of price data expected in the rest of Europe by the end of the week.
Throughout the Old Continent, analysts are expecting an ebb in inflationary pressures in May, largely thanks to the recent drop in energy prices.
In New York, the evolution of the futures contracts suggests for the moment a slightly higher opening of the American markets, closed yesterday because of ‘Memorial Day’.
The good orientation of the ‘futures’ is mainly explained by the optimism surrounding the outcome of the discussions relating to the raising of the American debt ceiling.
After intense negotiations, the Democratic and Republican leaders seem to have reached an agreement in principle, ruling out the risk of seeing the world’s leading economic power fall into default.
This agreement could be submitted to the votes of both chambers of Congress as early as this Wednesday, that is to say on the eve of the June 1 deadline when the Treasury would run out of money.
Calm prevails on the foreign exchange market, characterized for several weeks by a weakening of the euro on funds of concerns around growth, just like on the oil market, where prices are moving just above their lows annual.
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