(News Bulletin 247) – The Paris Stock Exchange is pressing pause, after having had an excellent year in 2023. Up this morning, the CAC 40 is now falling at mid-session despite the progress of Totalenergies.
The Paris Stock Exchange finally takes a breath at midday after having gained 16.52% over the whole of 2023.
Up 0.9% at the start of the session, the CAC 40 saw its gains significantly reduced during the morning before moving into the red around 12:30 p.m. (-0.3% to 7,518.08 points). The rise of the flagship Parisian index was thwarted by the announcement of a deterioration in manufacturing activity in France in December.
The final HCOB PMI index for the manufacturing sector in France stood at 42.1 in December, after 42.9 in November and a first estimate of 42. This is its lowest level since May 2020. Remember that the threshold of 50 marks the border between expansion and contraction of activity.
The automotive sector in sight
In this first session of the year 2024, two sectors stand out on the Paris Stock Exchange. Automotive values ​​on the one hand, driven by the good figures published for the French market in 2023.
Renault gained 1.2%, Stellantis increased by 0.5%. Automotive equipment manufacturers are not left out: Valeo posted one of the strongest increases on the Paris market (+2.6%), while Forvia appreciated by 2%.
The oil sector also stands out, supported by the rebound in black gold prices after new attacks in the Red Sea and the renewed tensions in the Middle East. The price of a barrel of Brent from the North Sea, for delivery in March, soared by 2.2% to $78.76, while its American equivalent, a barrel of West Texas Intermediate (WTI), for delivery in February, recovered. also 2.2% to 73.25 dollars. Heavyweight on the stock market, Totalenergies rose by 1.8% while Vallourec gained 2.1% and Technip Energies appreciated by 1.3% this Tuesday.
Danone gains 0.9%, the agri-food group announced on Tuesday that it had sold Horizon Organic and Wallaby, its two American brands of organic products to an investment fund.
On the foreign exchange market, the euro was down 0.7% at $1.0982.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
