(BFM Bourse) – The CAC 40 is moving up slightly at mid-session, while the market is qualifying the risk of escalation following the explosions that occurred on Friday in Iran. Investors are especially preparing to digest numerous company publications this week.
The Paris Stock Exchange is moving slightly higher at the start of the week. The CAC 40 advanced 0.3% at mid-session to 8,045.42 points.
Investors put geopolitical risk into perspective. On Friday, several explosions occurred in Iran but Tehran clarified that there had been no missile launch. A spokesperson for the Israeli army, for his part, made no comment even though these explosions took place a few days after the attack on the Jewish state by Iran.
“Tensions in the Middle East remain high and uncertain. But they did not escalate further this weekend because Iranian authorities instead downplayed the latest Israeli attack on Friday. The G7 and especially the United States are putting pressure on Iran as well as Israel in order to avoid escalation”, underlines Xavier Chapard of LBPAM.
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Alstom takes a step towards getting out of debt
As a result, oil prices continue to decline. The June contract on Brent from the North Sea lost 0.7% to 86.69 dollars per barrel, while that of the same maturity on WTI listed in New York lost 0.4% to 82.83 dollars per barrel.
The market is especially preparing to dissect an avalanche of publications this week with around twenty CAC 40 groups (Hermès, Totalenergies, Airbus, Renault to name a few) which will reveal revenues or complete accounts for the first quarter. In the United States, Microsoft, Alphabet, Meta, Tesla and General Motors will deliver results, while in Europe this will be the case for Porsche, BASF and Heineken.
On the value side, Alstom gains 0.8% after gaining more than 5% in the first exchanges. The group announced a sale of assets for more than 600 million euros with its conventional signaling in North America. A guarantee given to the market on its deleveraging, even if this operation could have been anticipated by the market (which explains the weak reaction of the stock).
Edenred is up 3.8%, benefiting from cheap purchases after having fallen by almost 7% on Friday, the stock reacting to the legal developments in the investigation of which the group is the subject in Italy.
Dassault Aviation fell 0.6% penalized by UBS which went from “buy” to “neutral” on the stock, judging that the good news is already integrated into the price.
On the currency side, the euro lost 0.08% against the dollar at 1.0652 dollars.
Julien Marion – ©2024 BFM Bourse