(News Bulletin 247) – The CAC 40 is moving slightly higher at mid-session in a market private from the Wall Street compass, closed for Thanksgiving Day. The CAC 40 increased by 0.2% towards 7,300 points.
The Parisian market will have to cope without Wall Street closed for the Thanksgiving holiday. In the absence of American participants, it is therefore in low volumes (with only 378 million euros exchanged) that the CAC 40 gained 0.25% to 7,279.01 points this Thursday at mid-session.
The flagship Parisian index therefore continues its progression towards 7,300 points, the day after a gain of 0.43%.
If the agenda will be blank on the other side of the Atlantic, in Europe on the other hand, operators have already taken note of the flash PMI indices for the month of November in the euro zone. Across the entire monetary union, this indicator which measures private sector activity has certainly recovered to 47.1 compared to 46.5 in October, but remains below 50, the threshold between a contraction and a progress of the activity.
A coming recession
“The euro zone economy is mired. According to our models, these new figures make possible a second consecutive quarter of GDP contraction,” Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, said, as quoted by Reuters.
It is therefore in this context that the markets will also take note this Thursday of the minutes of the last meeting of the European Central Bank, two days after that of the American Federal Reserve. Investors remain confident in the scenario of a soft landing for the American economy, with a continued decline in inflation at the same time.
In terms of high-profile stocks, LDC is up 4%. The poultry company has raised its annual profitability targets after achieving solid half-year results.
On the foreign exchange market, the euro increased by 0.2% to 1.0913 dollars. As for oil prices, they fell further this Thursday after the surprise postponement of the OPEC + meeting to November 30. A barrel of Brent from the North Sea, for delivery in January, lost 1.1% to 81.07 dollars. A barrel of West Texas Intermediate (WTI), for delivery the same month, also fell by 1.1% to $76.27.
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