(News Bulletin 247) – The Paris Stock Exchange ended slightly in the green during a session when the London Stock Exchange was closed. Investors are expecting several major events this week.
A smooth session for the Paris Stock Exchange on Monday. The CAC 40 closed up 0.18%, at 7,590.37 points.
The market continued to digest the comments of Jerome Powell, the chairman of the US Federal Reserve (Fed), who clearly signaled rate cuts to come for the next meeting of the American central bank.
Investors in Europe had to deal with liquidity weakened by the absence of British operators, with the London Stock Exchange closed on Monday due to a public holiday.
Markets also took note of durable goods orders in the United States, which recorded a 9.9% month-on-month growth in July. But Capital Economics notes that this rebound is entirely explained by a recovery in aircraft orders. Excluding transportation, durable goods orders, on the contrary, fell by 0.2% month-on-month.
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Totalenergies driven by oil
Moreover, Wall Street is not doing very well. Shortly before the European close, the S&P 500 fell by 0.3% and the Nasdaq by 0.8%.
Investors will be waiting this week for several indicators on inflation, notably the consumer price index on Friday, as well as the PCE index in the United States, the Fed’s preferred gauge, on the same day.
But the big event may take place on Wednesday evening with the quarterly results of Nvidia, the big hit on Wall Street for almost two years. Lower-than-expected results could well cause a stir on all the world’s markets.
In terms of value, there was no major upheaval on the CAC 40 this Monday. STMicroelectronics suffered a drop of 0.7%, which is the biggest in the index.
Totalenergies (+1.1%), on the other hand, recorded the strongest growth, thanks to the rise in oil prices. The October contract on North Sea Brent rose 2.6% to $80.16 per barrel, while the October contract on WTI listed in New York gained 3.2% to $77.28 per barrel.
Oil prices were boosted by supply concerns after the eastern Libyan government suspended production and exports.
On the currencies, the euro fell by 0.22% to 1.1169 dollars per barrel.
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