(BFM Stock Exchange) – The Parisian index finished down 0.17% this Monday, June 9 at the end of a session without great relief. Rémy Cointreau and Pernod Ricard lessons climbed.
The Paris Stock Exchange finished the session as it had started, that is to say on a cautious note. CAC 40 fell 0.17% to 7,791.47 points on Monday, June 9. The volumes remained moderate, little helped by Monday of Pentecost.
Market operators are monitoring new discussions between China and the United States on customs duties that started on Monday in London on Monday. With the hope that the fragile commercial truce between the two countries will be extended.
“The Wall Street Journal reports that President Trump gave to the Secretary of the Treasury (Scott) are weighing the power to negotiate the abolition of technological products export controls to China as part of commercial negotiations,” noted analysts of the American stock market letter Briefing.com.
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Pernod and Rémy at the party
Not enough to create excitement at Wall Street. The S&P 500 earned 0.1% shortly before the European fence.
On the French values side, Rémy Cointreau took 5% and Pernod Ricard 3.2%. These two titles were able to react to press information published on Friday evening. According to Reuters, the Chinese Foreign Minister said that France and China had decided to resolve their business disputes over Cognac, even if no indication of an agreement has been given.
China is considering implementing permanently next month a customs surcharge of up to 39% on this type of liquor.
Analyst at Oddo BHF, Pierre Tegner had indicated last year that Cognac in China represented around 25% of income from Rémy Cointreau and 8% at 9% of those of Pernod Ricard.
An analyst also mentioned a “potential” technical rebound to explain these movements after these two titles were put under pressure last Thursday. Brown-Forman, owner of Jack Daniels then issued a warning on results, and his action had unscrewed by 18%. Rémy Cointreau had lost 3.2% and Pernod Ricard had yielded 5.1%.
In other markets, the euro advances 0.2% against the dollar at $ 1.1421. Oil is advancing. The August Brent de Northern Brent contract takes $ 65.22 per barrel while that of July on the WTI listed in New York takes 0.9% at 67.04 Dollars per barrel.
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