(CercleFinance.com) – The Paris Stock Exchange begins the week with a modest decline of 0.12%, to 8,209 points, despite the performances of Teleperformance (+3.8%), Stellantis (+3.7%) and Sanofi (+2.3%).
The Parisian index thus remains in ambush, close to its recent records.
‘The appetite for risk is increasing again across all markets with remarkable consistency, from stocks to bonds, including credit and commodities,’ notes Florian Ielpo, at Lombard Odier.
After the strong rebound signed last week (+3%), the Parisian index and the Euro-Stoxx50 will be put to the test this week with a host of economic indicators, starting with the latest figures from the inflation in the United States.
The American stock markets – which have just posted three consecutive weeks of increases – are also a stone’s throw from their historic highs.
If the speed and scale of these gains may raise fears of an imminent decline, the market could well find new momentum if the CAC manages to rise sustainably above its major resistance of 8250 points.
Until now, the threshold of 8250 points has represented an important management point for investors, synonymous with partial profit-taking, which has prevented the psychological threshold of 8500 points from reaching.
The ability of the Parisian market to exceed this key level will be tested over the coming days by a busy program in terms of indicators, including figures for retail sales and industrial production across the Atlantic.
‘We recommend building portfolio positions based on all possible scenarios, but with a bias favoring the prospect of rate cuts,’ underlines Angelo Kourkafas, strategist at Edward Jones.
On the agenda for the week is also a speech by Jerome Powell, the president of the Fed, who will speak at the annual conference of the Association of Foreign Bankers organized in Amsterdam.
On the bond issue, no one is taking any initiative 24 hours after a ‘speech’ from Jerome Powell: the ’10 years’ and the ‘2 years’ US relax by -2Pts (at 4.48% and 4.85 %), in Europe, Bunds and OATs also erased -1.5 points, returning to their Thursday levels at 2.505% and 3.011% respectively.
The Dollar is also little changed: it crumbles by -0.2% towards 1.0795/E (the ‘$-Index falls by -0.15%).
In the news of French companies, Sanofi indicates that it is increasing its investments by 1.1 billion euros in its major industrial projects in France, to create new bioproduction capacities on its sites in Vitry-sur-Seine (Val de Marne) , Le Trait (Seine-Maritime) and Lyon Gerland (Rhône).
EDF announces the signing, with several large international banks, of green bank loans dedicated to financing the nuclear fleet in France for approximately 5.8 billion euros, loans with a maturity of between three and five years.
For its part, Air France-KLM announces the launch of a cash buyback offer relating to two existing bond issues, as well as its intention to proceed with a new bond issue, with a view to extending the average maturity of its debt.
Airbus Helicopters and Babcock announce that they have won a 12-year contract from the Aeronautical Maintenance Department, effective this year, for the support of 48 EC145s operated by the French Ministry of the Interior.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
