(News Bulletin 247) – The Parisian index gave up a little ground at mid-session this Friday, October 24. Accor stands out, after a copy loaded with good news, while infrastructure groups are penalized by fears about taxation.

The CAC 40 starts to fall again this Friday, October 24. The Parisian index dropped 0.47% to 8,186.86 points at mid-session.

Investors take note of the publication of the PMI indices in the euro zone. In October, the composite index, which measures private sector activity as a whole, stood at 52.2, reaching a 17-month high. An index above 50 reflects an expansion of activity. Economists polled by Reuters had expected a reading of 51.1.

Which gives a little food for thought to investors, deprived of economic data in the United States because of the “shutdown”.

>> Access our exclusive graphic analyses, and gain insight into the Trading Portfolio

Accor at the top of the CAC 40

“Between the fact that the macro calendar is always lighter in the middle of the month, that official American data are not published because of the shutdown and that we are in the period of silence of the central bankers before the meetings of the Fed (the American Federal Reserve, Editor’s note) and the ECB (European Central Bank, Editor’s note) next week, the macro ‘newsflow’ has been quite light in recent times days”, explain the LBPAM economists.

Investors continue to monitor macroeconomic and geopolitical issues. Thursday evening, the White House indicated that Donald Trump and Chinese President Xi Jinping would meet next Thursday, which “reinforced hopes for détente between the world’s two largest economies,” notes Deutsche Bank.

Above all, investors must digest a new burst of publications. Accor takes 5.6% after delivering a battery of good news, including raised objectives and the announcement of the potential listing of its “lifestyle” division. Sanofi advances 0.8% while its results exceeded expectations.

Excluding CAC 40, Maisons du Monde (+15%), Valeo (+8.6%) and Alten (+4%) climbed after publishing their third quarter activity.

Outside of publications, Kering lost 3%, weighed down by a lowering of recommendations from HSBC to “hold” versus “buy”.

The infrastructure groups Vinci (-3%), Eiffage (-3.7%) and ADP (-3.2%) are penalized by fears of an increase in the tax on long-distance infrastructure operators.

On other markets, the euro lost 0.1% against the dollar at 1.1612 dollars. Oil changes little. The December contract on Brent from the North Sea gained 0.1%, to 66 dollars per barrel, while that of the same maturity on WTI listed in New York also advanced 0.1%, to 61.85 dollars per barrel.