(News Bulletin 247) – The CAC 40 is moving up slightly in mid-session on Monday, still recovering just from a terrible week.
The Paris Stock Exchange continues its recovery. The CAC 40 took 0.38% this Monday at mid-session, to 7139.23 points, after gaining 0.4% on Friday, which had then enabled it to limit a little bit the (big) damage of the last week (-3.89%).
“Risk assets have suffered over the past week, particularly European stock markets. expectations that are too positive”, explains Sebastian Paris Horvitz, of LBPAM.
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Chinese inflation at 0
Pending strong announcements, which have not yet taken place, this Monday, the Parisian index is therefore recovering timidly. But it remains on the ropes, weighed down by the rise in bond rates and by the aggressive speeches of the major central banks.
On Friday, the US unemployment figures did not reverse the trend, because beyond job creations below expectations, “the unemployment rate fell and hourly wages maintained a rapid increase, maintaining their rise at 4 .4% year-on-year,” said Sebastian Paris Horvitz.
Chinese inflation is hardly giving any encouraging signals, quite the contrary. It fell to 0% over one year in June, less than the 0.2% anticipated by economists polled by Bloomberg. This shows that demand in the world’s second largest economy is having a hard time picking up.
As for values, movements remain measured on the CAC 40. The biggest increase is signed by BNP Paribas (+ 1.2%) while the biggest drop is recorded by ArcelorMittal (+ 0.7%).
Kering concedes 0.2% while according to the FinancialTimesthe luxury group would have bought for 3.5 billion euros, the high perfumery company Creed in June.
On mid-caps, the biotech Nanobiotix gains 53% thanks to the signing of a licensing agreement with the Dutch laboratory Janssen, which looks promising.
On the other markets, the euro changed little against the dollar, taking 0.02% to 1.0972 dollars a barrel. Oil contracts are trending lower. The September contract on North Sea Brent fell 0.8% to 77.86 dollars a barrel while the August contract on New York-listed WTI also lost 0.8% to 73.29 dollars a barrel.
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