(News Bulletin 247) – The Paris Stock Exchange ended sharply below 7,000 points, weighed down by the recovery in oil prices and new tensions on the bond compartment. The CAC 40 fell by 0.9% to 6,965.99 points, its lowest since March.
The Paris Stock Exchange, which had resisted until then since the start of the week, fell below 7,000 points, bending under risk aversion with the latest developments in the Middle East.
Balanced at mid-session, the CAC 40 ended sharply down 0.91% at 6,965.99 points, its lowest since March.
Market confidence is indeed being put to the test by the conflict between Israel and Hamas. A missile strike killed hundreds at a hospital in Gaza. Hamas blamed this act on Israel, which for its part denies and claims to have evidence that the hospital explosion was caused by a botched shot by the Palestinian terrorist group Islamic Jihad.
“Nevertheless, this highlights a much greater likelihood than previously estimated of a possible spread of conflict through an Israeli ground attack into Gaza, as civilian casualties will be inevitable. The next few days will be crucial for know whether the conflict will remain limited or not. Short-term caution should largely dominate,” underlines Sebastian Paris Horvitz of LBPAM.
This renewed tension is also exacerbated by the latest declarations from Iran, which is campaigning for an embargo on oil exports to Israel, which is also intended to support oil prices.
Brent at more than 90 dollars
The December North Sea Brent contract rose 1.3% to $91.05 per barrel while the November WTI contract rose 1.7% to $86.86 per barrel. The rise in the price of black gold also boosts the share prices of oil groups listed in Paris, including Totalenergies which increased by 0.95%.
The rise in interest rates on sovereign debt – a counter-intuitive movement in this period – is also putting the indices under pressure. The yield on the American 10-year bond is soaring towards its 16-year high, at 4.915% against 4.84% the day before, while the latest American statistics still show resistance in the American economy, and in particular its main engine. know consumption.
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Worldline featured of the day
As for other stocks, Worldline resisted the decline and ended up 3.2% benefiting from information from Bloomberg on a potential takeover of its Italian competitor Nexi, which highlights the low valuation of the sector on the stock market.
On foreign exchange, the euro lost 0.4% against the dollar at 1.0531 dollars.
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