(BFM Bourse) – The Paris Stock Exchange closed the last session of October up 0.9%, calmed by the clear slowdown in inflation in the euro zone and before the Fed’s monetary policy verdict. Over the whole of this month, deemed to be high risk on the markets, the CAC 40 lost 3.5%.
A faultless one. The Paris Stock Exchange continues its rebound towards 6,900 points for this Halloween day. The CAC 40 therefore closes Tuesday at 6,885.65 points, and adds an increase of 0.89% to its progression on Monday (+0.44%).
The trend is driven by multiple signs of easing prices in euro zone countries, the day after the publication of similar statistics in Germany. In the euro zone, inflation fell to 2.9% year-on-year in October compared to 4.3% in September. The evolution of GDP in the zone was also disappointing, contracting by 0.1% when economists were counting on stability.
Enough to give additional arguments to the European Central Bank so that it does not reactivate its movement to increase its key rates at the end of its meeting in December.
Despite the day’s rebound, the performance of the flagship Parisian index remains negative (-3.5%), which this year reinforces the high-risk reputation of the month of October on the stock market.
On the eve of a public holiday in many countries – the Paris Stock Exchange is still open on Wednesday November 1 – investors are moderating their initiatives while starting to look forward to the monetary policy meeting of the American Federal Reserve (Fed) which started this Tuesday and will end on Wednesday.
Bouygues sought after, Thales neglected
On the value side, Bouygues gained 4.4% following nine-month results that exceeded analysts’ expectations.
Stellantis rose 3.3% after reporting sales that were better than expected by analysts thanks to an improvement in sales volumes.
Conversely, Thales lost 1.4% as the group reported slightly disappointing order intake in the eyes of the market.
Note the mysterious surge in Metabolic Explorer (+118.5%), with no obvious factor justifying this increase. However, Le Courrier Picard reported a few days ago that François Ruffin, deputy for Somme, was mobilized to save the struggling Metex Noovistago factory in Amiens.
On other markets, the euro lost 0.50% against the dollar at 1.0564 dollars. Oil prices have turned downward. The January contract on North Sea Brent fell 0.35% to $86.05 per barrel while the December contract on WTI listed in New York fell 0.1% to $82.20 per barrel.
Sabrina Sadgui – ©2023 BFM Bourse