(News Bulletin 247) – The Paris Stock Exchange ended up 0.3% on Monday after returning 3% last week. The CAC 40 took note of a drop in the business climate index in Germany in June.

The Paris Bourse is starting the week on a positive note. With an increase of 0.29% at the close, the Parisian place managed to end a series of five consecutive sessions in negative territory. The CAC 40 ended its race below 7200 points at 7184.35 points on Monday evening, after having lost 3% over the past week.

Despite this relative calm, the market is still reluctant to take risks given the latest economic developments. The speeches of central bankers, who have in their sights new rate hikes, whether for the American Federal Reserve (Fed) or the European Central Bank (ECB), have placed the cursor on “caution”. The multiple signals on the risks of recession in Europe and the United States do not plead in favor of blissful optimism on the financial markets.

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Germany’s Ifo collapses in June

However, a German indicator has been added to the long list of recent dismal statistics. The Ifo index, which measures the business climate, fell in June to 88.5 from 91.5 in May, also falling below the consensus expectations of economists polled by Reuters (90.7).

“The collapse of the German Ifo, as well as the drop in the PMI indices, published on Friday, suggest that German GDP probably contracted for the third consecutive quarter during the second quarter”, underlines Capital Economics.

“The fact that today’s figures confirm that the economic engine of the eurozone is running out of steam is a source of serious concern for investors,” said Naeem Aslam of Zaye Capital.

The market therefore remains in a cautious mood while “many risks remain this week, with economic statistics in Europe, the United States and China, interventions by central bankers or even concerning American banks”, underlines Vincent Boy, market analyst at IG France.

SES-imagotag strikes back

In terms of values, the Orpea share limited its gains to 6.1% after an update by the company on the publication of two reports by an expert firm which values ​​the company between 6 billion and 7 billion euros. euros.

SES-imagotag picked up some color (+15.8%) after having refuted, in a long document, the allegations of Gotham City Research. The title of the specialist in smart labels had fallen heavily (-58%) on Friday following the attack by the short seller who accused the company of accounting irregularities, which the company denied.

The defense lost attitude, Dassault Aviation lost 3.6% and Thales 2.6%, while the mutiny in Russia of the paramilitary group Wagner, finally abandoned on Saturday evening, highlighted weaknesses on the side of the camp Russian. And causes market speculation about a potential end to the conflict in Ukraine, which is perceived negatively for the sector.

On the other markets, the euro was down slightly (-0.2%) at 1.0917 dollars. Oil is moving up a bit. The August contract on Brent from the North Sea advances by 0.2% to 74.20 dollars a barrel, while that of the same expiry on WTI quoted in New York advances by 0.2% to 69.28 dollars. .