(BFM Bourse) – The Paris Stock Exchange is treading water this Tuesday. The CAC 40 closed slightly up 0.06% the day after its decline after the various protest movements in China last weekend. The trend remains undecided as a slew of major statistics is expected at the end of the week across the Atlantic.
Up 0.3% at mid-session, the CAC 40 slowed down and won 0.06% to 6,668.97 points on Tuesday evening. The direction taken by the market remained vague, a sign that caution continues to dominate. Investors are still worried about the wave of protests in China against the government’s zero-Covid policy.
The Chinese authorities have however announced that they will accelerate the vaccination of the elderly against Covid-19, while the low vaccination rate among this population is one of the arguments used by Beijing to justify its zero-Covid policy. This announcement allowed the Hong Kong Stock Exchange to end up more than 5% on Tuesday, after losing 1.6% the day before.
The session was also marked by the publication of consumer confidence in the United States. And the morale of American households fell in November between persistent inflation and the risk of recession. The index established by the Conference Board fell to 100.2 points in November, against 102.2 points the previous month.
Investors are also avoiding positioning themselves at the dawn of major events this week on the economic front, including the essential official employment report published every 1st Friday of the month.
ALD stalls
Values exposed to raw materials have regained momentum, such as Eramet (+4.5%) or ArcelorMittal (+2.8%) as have Vallourec shares (+3.2%) or TotalEnergies ( +2.1%), which are picking up with the rebound in black gold prices.
ALD, a subsidiary of Societe Generale, ended down 1.5% after launching a capital increase to finance part of the takeover of its Dutch competitor LeasePlan. The company also lowered some of its medium-term targets.
On the small and mid-cap side, Nacon closed up more than 7%, the semi-annual publication of the group specializing in gaming peripherals and video game publishing was appreciated.
Inventiva grew by 4.4% as the Burgundy biotech received a new patent in the United States for its flagship molecule against human fatty liver disease.
On other markets, the euro gained 0.1% against the dollar at 1.0356 dollars. After falling sharply on Monday, oil prices are maintaining their lead. Prices are supported by rumors of lower production by members of OPEC+, the cartel that brings together members of the Organization of the Petroleum Exporting Countries and their allies, when they meet next week.
North Sea Brent crude for January delivery gained another 0.8% to $84.56 a barrel while New York-listed WTI rose 1.2% to $78.17 a barrel.
Sabrina Sadgui – ©2022 BFM Bourse