(BFM Bourse) – The CAC 40 is moving up slightly mid-session on Monday, still recovering from a terrible week.
The stock market in Paris continues its recovery. The CAC 40 gained 0.38% this Monday mid-session to 7139.23 points after gaining 0.4% on Friday, which had then allowed it to limit last week’s (big) damage a little bit (- 3.89%).
“Risk assets have suffered over the past week, especially the European equity markets. expectations are too positive”, explains Sebastian Paris Horvitz, from LBPAM.
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Chinese inflation at 0
Pending strong announcements, which have yet to take place, this Monday, the Paris index is therefore timidly recovering. But it remains on the ropes, weighed down by the rise in bond yields and aggressive talk from major central banks.
On Friday, U.S. unemployment numbers did not reverse the trend as, in addition to below-expected job creation, “the jobless rate fell and hourly wages maintained a brisk increase, maintaining their 4.4% year-over-year increase,” Sebastian Paris Horvitz said.
Chinese inflation hardly gives any encouraging signals, on the contrary. It fell to 0% over the year in June, less than the 0.2% economists had expected from Bloomberg. This shows that demand in the world’s second largest economy is finding it difficult to pick up.
As for values, movements remain measured on the CAC 40. The biggest increase is signed by BNP Paribas (+ 1.2%), while the biggest decrease is recorded by ArcelorMittal (+ 0.7%).
Kering concedes 0.2%, while according to Financial Timesthe luxury group would have bought for 3.5 billion euros, the high perfume company Creed in June.
At mid-caps, biotechnology Nanobiotix gains 53% thanks to the signing of a license agreement with the Dutch laboratory Janssen, which looks promising.
Elsewhere, the euro was little changed against the dollar, gaining 0.02% to $1.0972 per barrel. Oil contracts are on the way down. The September contract for North Sea Brent fell 0.8% to $77.86 a barrel, while the August contract for New York-listed WTI also lost 0.8% to $73.29 a barrel.
Julien Marion – ©2023 BFM Bourse