(BFM Stock Exchange) – This article, with free access, is produced by the research team in BFM Stock Exchange analysis and market strategy. To not miss any opportunity, consult all of the analyzes and discover our portfolios by accessing our privilege space.
Having distancing in the face of unpredictable customs issues, in terms of the destabilizing nature of D Trump, the market prefers to look up. The CAC 40, supported by Essilorluxottica, gained 1.44% at 7,848 points on Wednesday, in slightly increased volumes.
The American president assured on Tuesday that he did not plan to postpone the maturity of August 1, when the customs from the United States’s business partners must fully come into force. He also threatened to impose new surcharge, which this time targeting the pharmaceutical industry and copper. However, the American president also said that the European Union, with the president of the European Commission, Ursula von der Leyen, had been “very kind to us”. “We will see what will happen,” he added according to comments mentioned by the Guardian. Which can lead the market to hope for an agreement. The American president also said he was planning to send a letter to Brussels within two days.
“The market remains very calm because it anticipates that these threats will not be realized or in any case will not become widespread in all countries,” explains Xavier Chapard de LBPAM.
“The rebounds of the trade war – threatens against the BRICS and agreements in view of the expiration of the expiration of the” reciprocal “surcharge – constitute a background noise on the stock market. But that ultimately exercises only a low influence on the evolution of the prices. Investors consider, on the right or right, that the worst is certainly behind,” considers Christopher Dembik, advisor in investment strategy.
On the values ​​side, Essilorluxottica contributed to the performance of the CAC40 index on Wednesday, with a jump of 5.6%. The optical group is carried by press information reporting that Meta has taken a little less than 3% of its capital to seal their alliance in connected glasses. Publicis, on the other hand, limited its withdrawal to 1.8%. Any harm while his British rival WPP collapsed by almost 19% on the London Stock Exchange after issuing a heavy warning on results. The automotive equipment sector was surrounded, like Forvia (+1.17%), Valeo (+3.15%) and Opthobility (+7.64%).
On the other side of the Atlantic, the main shares on shares finished the session of Wednesday in green territory, like the Dow Jones (+0.49%) and the Nasdaq Composite (+0.94%). The S & P500, a reference barometer of appetite for the risk in the eyes of fund managers, gained 0.61% at 6,263 points.
A point on the other asset classes at risk: around 8:00 am this morning on the exchange market, the single currency was treated at a level close to $ 1,1720. The barrel of WTI, one of the barometers of appetite for the risk on the financial markets, was exchanged around $ 67.30. THE Treasuries 10 Yearsyield of federal sovereign bonds due to 10 years, was negotiated slightly above 4.41%. As for the Vix, it was worth 16.80 at the last fence of the S&P500.
At the macroeconomic agenda this Thursday, to follow in priority Italian industrial production at 10:00 am, and weekly registrations for unemployment benefits at 2:30 p.m.
Key graphics elements
The gradual cap under the 7,900 points has suddenly turned into intense volatility. In one session Friday, May 23, the Parisian flagship index broke the Dynamics of the spring rally by breaking the mobile average at 20 days (in dark blue), the difference compared to the mobile average at 50 days (in orange) has taken up strongly.
The 7,900 points are reinforced in their status of graphic resistance, even though the dynamics of the relative force index invite caution. Indeed the RSI (Relative Strenght Index) Adopt a persistent lowering bias since May 13. The tricolor flagship index is now in a glaring situation of incapacity for creations of new heights.
First alert Thursday, June 12 with a metal gap in session. Second the next day with a new gap, filled in the session too. The short -term configuration is gradually weakened.
The intermediate support of the 7,500 points nevertheless allowed the flagship index to find oxygen at the end of the week 26. It is already back on an intermediate resistance to 7,700 points. Technical level which he freed on Wednesday July 09.
FORECAST
In view of the key graphic factors that we have identified, our opinion is neutral on the CAC 40 index in the short term.
We will take care to note that a crossing of the 7895.00 points would revive the tension to the purchase. While a break in the 7700.00 points would relaunch the selling pressure.
The News Bulletin 247 Council
Hourly data graphics
Daily data graphics
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.
