(News Bulletin 247) – The Parisian index is gaining a little ground, while several stocks fall after disappointing results. Kering, for its part, continues its dizzying rally.

The CAC 40 is overwhelmed by very busy news this Thursday, October 23. The Parisian index, however, progressed with an increase of 0.4% to 8,241.3 points at mid-session.

Investors are taking into account the Trump administration’s announcement of a new wave of sanctions against the Russian oil sector. The European Union has also tightened its own sanctions on Russian hydrocarbons.

“These are the first material American sanctions against Russia introduced since Trump’s return to the White House in January and they mark a radical change in tone compared to last week, when the two parties mentioned a possible meeting in Budapest between Trump and Putin” to discuss the Ukrainian file, underlines Deutsche Bank.

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Kering never stops breaking the ceiling

These sanctions are causing oil, whose prices had plunged in recent months, to take off. The December contract on North Sea Brent gained 5% to $65.73 per barrel while that of the same maturity on WTI listed in New York jumped 5.5% to $61.72 per barrel.

Which logically supports the action of the oil major Totalenergies, which gains 2.4% and carries the CAC 40.

Furthermore, the market remains on the lookout for trade tensions between the United States and China. Concern mounted after Reuters reported that the Trump administration was considering a plan to restrict exports to China on items containing U.S. software or produced using U.S. software.

“The article indicated that the plan was not the only option being considered, but was designed to retaliate against China’s restrictions on rare earth exports. This left a feeling that the two sides were engaging in difficult negotiations ahead of the possible Trump-Xi meeting,” explains Deutsche Bank.

Above all, the market has an avalanche of publications to digest. If Kering (+9.8%) is celebrating after delivering less bad activity than expected in the third quarter, Dassault Systèmes (-15.3%), STMicroelectronics (-8%) and Carrefour (-3.3%) have all disappointed.

Excluding the CAC 40, Sodexo fell once again (+7%) after delivering outlooks lower than expectations for the current financial year.

On the currency side, the euro lost 0.2% against the dollar at 1.1591 dollars.