(BFM Bourse) – A number of operators are missing on this often holiday Monday. While the Paris Stock Exchange remains open, the debate on the conduct of the Fed in the coming months is partly overshadowed by the dynamism of Chinese markets on Monday morning. Wall Street should also try to recover this afternoon at the opening.
It’s better not to be a fan of long weekends when you enjoy trading on the Paris Stock Exchange: the calendar of public holidays on Euronext this year hardly gives you opportunities to escape for more than two days (spoiler: the next market closing day does not occur until December). In reality, the low volumes -540 million euros- traded at mid-session shows that it is not really “business as usual” and that many operators have taken the key fields. The news on the side of listed companies is also completely anemic, apart from the announcements of biotechnology companies present at ASCO, an essential congress which is held in Chicago until June 7th. But that does not prevent the flagship index from posting a comfortable increase of 1.17% to 6,561.10 points around 12:20 p.m.
Asian markets, closed as of now, kicked off the week on a positive note, with Shanghai climbing 1.3% and Hong Kong 2.7% as Chinese authorities continue to loosen health constraints in several major cities in China.
The New York Stock Exchange should also open in the green this afternoon, after finishing down on Friday following the announcement of job creations (390,000) for the month of May. On the whole, the US indices fell more sharply than in Europe (-1% for the Nasdaq last week, -1.2% for the S&P 500). This week, investors will carefully follow the press conference of the European Central Bank (ECB), where Christine Lagarde could confirm the raising of rates by this summer, for the first time in more than ten years… Atlantic the new reading of inflation (CPI) is due on Friday, with economists expecting a further slowdown in the pace of price increases to +8.2% in May.
Nanobiotix in the spotlight
Among the rare Parisian values in notable progress on Monday, Nanobiotix rebounded by 6.5% while the firm is currently presenting (among more than 3000 “abstracts”) data on its NBTXR3 treatment, making it possible to boost the effectiveness of radiotherapy. Also present in Chicago, Transgene is content to garner 1%. The Strasbourg company highlighted on Sunday at this congress of the American Society of Oncology the preliminary data of the therapeutic vaccine against cancer TG4050.
In decline on Friday at the announcement of the terms of its capital increase, Faurecia recovered by 5.4%, dragging Valeo (+ 3.4%) in its wake. Several analysts like UBS have confirmed their positive opinion on Faurecia.
Also favored by a research office, Societe Generale gains 2.9%: for Jefferies, the objective on the title goes from 25 to 35 euros, while the question of exposure to Russia now seems to be integrated (a study from Yale University also shows that the withdrawal of Russia was the profitable choice for the majority of Western companies that left this market, even at the cost of heavy depreciation).
On the foreign exchange market, the euro climbed 0.25% to 1.0731 dollars, without much change since mid-May. Oil prices are still appreciating a little again on the bar of 120 dollars for Brent (+0.7% to 120.57 dollars, while the WTI points to 119.70 dollars).
Guillaume Bayre – ©2022 BFM Bourse