Cac 40: With a battery of US statistics on the horizon, the stock market is in full torpor

(BFM Bourse) – The CAC 40 was almost flat mid-session, while US retail sales and industrial production will be released in the afternoon.

A wait-and-see attitude is called for on the Paris stock market on Tuesday. The CAC 40 is barely moving mid-session, giving 0.02% to 7290.13 points.

The market is avoiding taking risks ahead of a flurry of US data released this afternoon, including industrial production in June, homebuilder confidence in July and especially retail sales in June.

“This number is of great importance as it will tell us about the real situation of American consumers and their ability to put their hands in their pockets. With recent inflation figures showing a massive improvement, there is a good chance that we will see an improvement in consumer spending as the labor market and wage income growth remain stable, if not solid”, analyzes Naeem Aslam of Zaye Capital.

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Selected SES-Imagotag

The market will also follow the results from banks Bank of America and Morgan Stanley on Tuesday. On Friday, JPMorgan, Citigroup and Wells Fargo had already published their quarterly accounts.

In terms of values, Casino lost 11.3% and the title resumed its offering after being suspended the previous day. The group has decided to continue discussions with a group of investors led by Daniel Kretinsky, who will contribute equity. The company intends to complete its financial restructuring before the end of the month.

SES-Imagotag gains 12% by benefiting from a contract with “the world’s largest furniture distributor” of Swedish origin, without however mentioning its partner (if you think of Ikea, you think like us). The stock is also supported by the resumption of coverage from Berenberg, who recommends buying the stock.

Aramis Group lost 7.8% of the market, which sanctioned the company’s activity point in the period from April to the end of June, marked by a decrease in sales of refurbished vehicles.

Elsewhere, the euro rose 0.1% against the dollar to $1.1248. Oil contracts change little. The September North Sea Brent contract rose 0.4% to $78.81 a barrel.

Julien Marion – ©2023 BFM Bourse

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