(News Bulletin 247) – The Parisian index ended up slightly on Monday, recovering at the end of the day thanks to the good behavior of the American markets. Fears about the Chinese real estate developer Country Garden weighed on the session and, above all, on the Asian indices.

In a session with very low volumes, the CAC 40 managed to move forward, with, admittedly, difficulties. The Parisian index finally ends this first session of the week in the middle of August up 0.12% to 7348.84 points.

Well oriented in the morning, the Parisian market lost its momentum during the afternoon before regaining strength at the end of the session, supported by the good performance of the American indices. Shortly before the European close, the S&P 500 gained 0.4% on Wall Street.

Current events did not help the Parisian index, with in particular a resurgence of geopolitical risk linked to the Ukrainian conflict. Markets are monitoring “the situation in the Black Sea, after the control of a Ukrainian cargo ship by Russia on Sunday, which led [cette dernière] to fire, in order to force the boat to stop” which “puts a little more pressure on this essential route for the transport of raw materials in the region”, explains Vincent Boy, market analyst at IG France.

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New fears in China

Added to this were fresh fears in China, where property developer Country Garden Holdings suspended trading in several bonds after failing last week to pay coupons on two dollar-denominated bonds. This while the group has a colossal debt of more than 190 billion dollars, according to Reuters.

If the difficulties of the Chinese group (which lost more than 18% in Hong Kong) weighed on the Asian indices, Jennifer McKeown, of Capital Economics, nevertheless believes that the risks of short-term contagion for the world economy prove to be relatively low.

“The immediate fallout on the global economy and markets from the problems with Chinese property developer Country Garden appears to be limited. Foreign exposure to China’s property sector has declined sharply in recent years and policymakers should intervene to avoid a collapse. in China”, she develops in a note.

Thales biggest drop in the CAC 40

In terms of values, while the majority of CAC 40 securities have evolved in the green, Thales has abandoned 1.7%, penalized by the loss of a huge contract for its subsidiary Thales Alenia Space with the satellite operator Telesat. .

“Although long delayed and subject to funding issues, we do not believe that the total loss of this contract was expected (…) This could put some pressure on Thales shares today,” Jefferies said in a statement. note published before market opening.

Valneva, for its part, lost 8.4%, undermined by the postponement of the target date for the end of the examination of its chikungunya vaccine candidate by the American health authority.

As for smaller caps, Egide lost 13.8% after announcing the launch of a capital increase to strengthen its finances and the abandonment of the sale of its American subsidiaries.

On the other markets, the euro lost 0.4% against the dollar at 1.0907 dollar. Oil contracts are trending down slightly. The October delivery contract on North Sea Brent fell 0.6% to $86.30 a barrel while the September contract on New York-listed WTI fell 0.6% to $82.71 a barrel .