(News Bulletin 247) – The Paris Stock Exchange is moving slightly higher, in a market which will be marked by the return of American operators, but for a shortened session. The CAC 40 increased by 0.2% towards 7,300 points.
The Paris Stock Exchange is pressing the handbrake, lacking the spring to tackle this new session which will mark the return of American investors… But for a truncated session, Wall Street will close its doors the day after Thanksgiving at 1 p.m. local time (i.e. 7 p.m. in Paris).
The CAC 40 therefore gains 0.20% to get closer to 7,300 points at 7,292.40 points. On Thursday, the flagship Parisian index had already gained 0.24% in the absence of benchmarks from Wall Street, closed for Thanksgiving. For now, the CAC 40 is up 0.80% over the week.
On the agenda this Friday, some macroeconomic indicators from both sides of the Atlantic. In Europe, operators noted confirmation of the contraction of the German economy in the third quarter. Germany saw its GDP fall by 0.1% while the morale of entrepreneurs in the country improved but not enough. The IFO index measuring the business climate in the country rose by 0.4 points to 87.3 points, while analysts were expecting 87.5 points.
In the United States, operators will be attentive to PMIs, “which could signal a new economic deceleration capable of reassuring the American central bank” (Fed), estimates John Plassard, investment specialist at Mirabaud cited by AFP.
Little news
On the business side, news remains sparse. The luxury sector is a little shaken after the latest discouraging news from China. The World Health Organization (WHO) is concerned about an increase in cases of respiratory diseases in the country. Hermès shares showed the biggest drop in the CAC 40 (-0.80%), followed by Kering (-0.6%) and LVMH (-0.4%).
Laurent-Perrier gained 1.7% after its half-year accounts, supported by an increase in bottle prices.
On the foreign exchange market, the euro gained 0.1% against the dollar to 1.0915 dollars. On the oil side, the prices of the two global benchmarks are moving in dispersed order. The barrel of Brent from the North Sea for delivery in January gained 0.45% to 81.79 dollars while its American equivalent, the barrel of West Texas Intermediate (WTI) for delivery in January, lost 0.4% to 76 .78 dollars.
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