(News Bulletin 247) – The CAC 40 closes up 0.3%. The Parisian market was supported by the rebound in American indices despite geopolitical tensions.

The Paris Stock Exchange begins the week on a cautious note, with the market taking note of the latest developments in the war between Israel and Hamas.

After a hesitant start to the session, the CAC 40 closed up 0.27% to 7,022.19 points this Monday evening, following the trend on Wall Street with the Dow Jones and Nasdaq rebounding for example by 1.2% to the closing of European markets.

The trend on the other side of the Atlantic is supported by accommodating remarks from several officials of the American Federal Reserve, including those of the president of the Chicago Fed, Austan Goolsbee. The head of the Fed’s regional branch told the Financial Times that it was “undeniable that the slowdown in US inflation was a trend rather than a passing blip, despite a recent series of economic data showing persistent pressure on certain prices.

The American indices are also buoyed by a good start to the corporate results season since 28 of the 32 companies in the S&P 500 that have already published their accounts have surprised the upward consensus, reports Reuters.

The Parisian market thus ends a series of three sessions in negative territory, investors having been cooled by the recent rise in black gold prices, due to fears of an extension of the war between Israel and Hamas to the neighboring countries, with potential repercussions for oil-producing countries.

“The risk for the global economy in the short term remains, in our view, an extension of the conflict which would involve Iran. Markets still seem to remain calm, with rates stable and markets up slightly this morning in Asia. This seems reasonable as long as the central scenario is not strongly altered by events” in the region, analyzes Xavier Chapard of LBPAM.

Oil prices are falling in the absence of signs of supply disruptions. The December contract on North Sea Brent fell 1.10% to 89.94 dollars per barrel, while that of November on WTI listed in New York gained 1% to 85.52 dollars per barrel.

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The Atos Big Eight

On the value side, it was difficult to follow the Atos stock this Monday as the stock was so hypervolatile. The IT group’s stock gained 5.8% at the close after oscillating between increases and decreases during the session while the group announced the departure of Bertrand Meunier, its president, replaced by Jean-Pierre Mustier, while providing an update on the progress of the sale of its historic activities to Daniel Kretinsky.

Carmat limits its gains to 1.4%, after the announcement of a capital increase of 7 million euros which will allow it to complete the year 2023. The company estimates, however, that it will still need to find 50 million euros by October 2024.

As for more confidential companies, Aures, which declared at the end of August to be in a “very tight” cash flow situation, soared by 147% after receiving financial support from a Taiwanese industrialist.

On other markets, the euro rose 0.3% against the dollar to 1.0548 dollars.