(CercleFinance.com) – The Paris Stock Exchange gained up to 1% this morning, around 6,580 points before settling towards 6,555 (+0.6%), in the wake of luxury stocks which monopolized the 4 1st CAC40 places (as on Friday, by the way), and draw the index for the 3rd consecutive session.
Trading is slowing as the day is marked by the closure of Wall Street, due to Memorial Day.
Against this backdrop, investors were able to focus on the Economic Sentiment Indicator (ESI) in the eurozone.
It is broadly unchanged (+0.1 points) at 105 in May, a level well below that which prevailed before the war in Ukraine. Capital Economics sees this as a sign of economic stagnation in the second quarter.
“Industrial confidence fell for the third month in a row, with declines in Germany and Italy which were most affected by the energy price shock, more than offsetting improvements in France and Spain,” the bureau said. analysis.
“Although economic activity behaved a little better than we feared in April and May, the outlook for the rest of the year remains poor”, he warns, still expecting growth in the GDP weaker than the consensus or the ECB expects this year.
Several indicators released this week will provide more insight into the health of the global economy.
Market players will be watching the US employment figures, which will be released on Friday, with particular attention.
Economists expect a deceleration in job creations in May, expected around 325,000 against 428,000 in April.
On the Tokyo Stock Exchange, the Nikkei index ended up 2.2% on Monday, supported by the gains recorded on Friday in New York and the announcement of an action plan for the economic recovery in Shanghai .
In a bid to coordinate control of the Covid epidemic, China’s largest city has announced that it will promote the resumption of production in all sectors of industry.
The idea is to accentuate the prevention and disinfection measures of companies in order to stabilize production chains and facilitate national and international logistics and transport channels.
In China, the CSI 300 index of large caps rose 0.3% following these announcements and the Shanghai Stock Exchange recovered nearly 0.2%.
This day will be marked by a new bullish surge in ‘Brent’ oil (+1.1%) which has crossed the $120/barrel mark in London.
In the news of French companies, Enovacom, the health subsidiary of Orange Business Services, announces the conclusion of an agreement for the acquisition of 100% of Exelus, the leader in emergency and daily telemedicine, publisher of the Nomadeec mobile telemedicine solution.
Getlink announces the smooth running of the first week of commercial operation of its ElecLink electrical interconnection, marked by the holding of the first auctions and the first transfers of electricity.
Finally, Euroapi announces that it has expanded its collaboration with Sanofi entering into their framework development agreement dated October 1, 2021, in order to support Sanofi’s mRNA vaccine platform through the development of lipid nanoparticles.
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