(BFM Stock Exchange) – The Parisian index starts June on the bad foot, still slowed down by the revival of tensions on the commercial front between China and the United States and Geopolitics between Russia and Ukraine. Totalnergies closes at the head of the Parisian index, helped by the rebound of black gold.

The Paris Stock Exchange begins this new stock market on a dull note. CAC 40 finished this first session in June in decline from 0.19% to 7,737.20 points. The star index, however, limits its withdrawal, since it lost more than 1% at the start of the session.

The Parisian market remains enlarged by the revival of tensions for a few days between China and the United States. On Friday, Donald Trump accused his trading partner of not respecting “his agreement”.

“It is likely that Europe is again the target of the White House in the coming days. This is likely to stir up volatility on the stock market and to encourage institutionalists to alleviate their positions on actions – a phenomenon which is usual before summer but which could be exacerbated this year because of protectionism,” said Christopher Dembik, of Pictet AM.

Washington is in fact planned to double customs duties on steel and aluminum imports to bring them to 50% from Wednesday, June 4, the Wall Street Journal reported on Friday.

One eye on geopolitics

In this regard, the European Commissioner for Commerce Maros Sefcovic will meet the American representative to Jamieson Greer trade on Wednesday, on the sidelines of the OECD Ministerial Council meeting which will also be held on Wednesday.

Investors also have an eye on the situation in Ukraine in the aftermath of a vast drone attack by kyiv against four Russian aerodromes which affected planes, including bombers, according to AFP.

A second session of talks with Russia took place this Monday and ended barely an hour after its opening in Istanbul, reports Reuters. Turkish President Recep Tayyip Erdogan once again proposed on Monday to bring Russian presidents Vladimir Putin on Monday, Ukrainian Volodomyr Zelensky and American Donald Trump, “in Istanbul or Ankara,” said AFP.

In the statistical chapter, the American manufacturing activity deteriorated again in May, according to the monthly survey of the Institute for Supply Management (ISM). His index fell, against all expectations at 48.5 points in May, where the consensus compiled by Reuters was waiting for 49.5 points.

Oil rebound

Note that oil climbs clearly on Monday. The August contract on the Brent de Mer of the North advances 2.9% to 64.61 dollars per barrel while that of July on the WTI listed in New York gained 2.9% also at 62.57 Dollars per barrel.

Black gold courses climb that the organization of oil exporters (OPEC) and its allies announced a new increase in its production of 470,000 barrels per day in July, the same figure as in May and June.

But “the market feared, last week, a process of suppressions (production reductions spent in recent years, editor’s note) faster at the meeting of (this Saturday), so that oil prices could react positively to this news,” UBS wrote in a note published this weekend.

As a result, oil values ​​are growing. Totalnergies increased by 2%, signing the strongest increase in CAC 40 this Monday evening. Excluding CAC 40, Vallourec earned 3.9%.

JCDECAUX appreciated 1.9% helped by Berenberg who initiated his coverage for purchase.

Transgene flambé 46% after reporting first positive results for the TG4050 therapeutic vaccine, tested therapy targeting cancers in the head and neck.

The euro takes 0.7% against the dollar at 1.1433 dollars.