(News Bulletin 247) – The Paris Stock Exchange begins the week on the rise. The CAC 40 increased by 0.8% Monday evening, back to 7,500 points, ignoring the decline of Totalenergies which was penalized by the fall in oil prices.

The Paris Stock Exchange is starting the week in good spirits. After a slump at lunchtime, the rebound of the CAC 40 regained strength with the good direction at the opening of Wall Street. The Parisian index closed up 0.79% at 7,556.94 points Monday evening.

The highlight of the day was obviously the fall in oil prices. The December contract on Brent from the North Sea lost another 5.5% to 71.44 dollars per barrel while that of November on WTI listed in New York lost 5.7% to 67.70 dollars per barrel. barrel.

A busy week of appointments

Oil reacted to evolving tensions in the Middle East. On Saturday, Israel launched an attack on Iran that targeted missile manufacturing facilities while sparing critical sites for oil production, AFP reported. This removes the specter of a large-scale conflict which would disrupt the supply of black gold in the region.

“The much-anticipated Israeli airstrikes on Iran moved away from critical oil infrastructure, deflating the geopolitical risk premium that kept oil prices high,” observes Stephen Innes of Spi AM.

Investors are also preparing for a busy week of economic indicators including third quarter GDP on Wednesday, followed the next day by the PCE price index, the US Federal Reserve’s preferred inflation gauge, before the official report of the American employment, Friday.

As for results, the agenda will also be busy. Around ten CAC 40 groups will deliver quarterly results or turnover while in the United States Microsoft, Meta, Apple, Alphabet, Amazon, Intel and Exxonmobil will publish their accounts.

OPmobility stands out

As for French stocks, this Monday, Totalenergies limited its decline to 0.9%, the stock being penalized by the decline in oil prices.

Conversely, the fall in black gold prices supported all air transport groups including Air France-KLM, which gained 3.8%, the fuel bill constituting one of the main expenditure items for these businesses.

On the publications side, OPMobility ended the day up 4.8%, the former Plastic Omnium being driven by the publication of sustained activity in the third quarter.

GTT for its part increased by 2.7%. The manufacturer of cryogenic membranes for the transport of natural gas is now targeting the high end of its 2024 revenue and profitability objectives, after having achieved activity over nine months above expectations.

On the foreign exchange market, the euro gained 0.2% against the dollar to 1.0816 dollars.