Market: In a sluggish market this Whit Monday, the CAC 40 ran out of fuel

(BFM Stock Exchange) – The Paris Stock Exchange concedes a few fractions of a percent on Monday, after a rather boring session, in the absence of many operators. The CAC 40 closed down 0.2% but maintained the 7300 points.

Slow start to the week on the Paris Stock Exchange, in the absence of many investors who left to take to the skies for Pentecost. Balanced mid-session, the Paris index closed down a small 0.21% at 7,303.81 points, in anemic volumes, with just 1.47 billion euros traded.

The cruel lack of animation of the Parisian place is explained by the closure of many places since Wall Street, the London Stock Exchange or Oslo closed their doors this Monday in Pentecost. Not to mention that French investors may have taken a holiday on the same day Whit Monday is a public holiday, although many companies choose this day as a “solidarity day”.

The market has therefore struggled to move forward while the agreement reached between Republicans and Democrats to raise the debt ceiling has yet to pass the caudine forks of Congress, where each camp could express its displeasure with the compromise found. The vote will take place on Wednesday in the House of Representatives, then a priori on Friday or Saturday in the Senate, according to the leader of the Democrats, Charles Schumer, quoted by AFP.

As for the week’s other big meetings, the most important will take place on Friday with the publication of the US employment report for the month of May.

Note that the Istanbul Stock Exchange closed down 4%, registering Erdogan’s victory in the Turkish presidential election on Sunday.

Orpea resigns

In terms of value, few titles have made a mark on the Parisian market. Orpea fell 2.6% after announcing that the FSA had granted a dispensation to a group led by Caisse des Dépôts from the obligation to make a mandatory public offer (OPA). This group will take control of the company following the financial restructuring planned by the group.

Elsewhere, the euro fell 0.15% against the dollar to $1.0714. Oil, on the other hand, is sluggish. The July contract for Brent from the North Sea is yielding 0.5% at $76.62 per barrel.

Sabrina Sadgui – ©2023 BFM Bourse

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