(CercleFinance.com) – After opening in the green and gaining up to 0.8% shortly after the opening, the Paris Stock Exchange finally saw its gains erode throughout the session. At the final gong, the Parisian index even lost 0.24%, at 7279 points, notably pulled down by Saint-Gobain (-3.1%).
This first session of the week was marked by the absence of Wall Street, closed due to ‘Labor Day’, as well as by low volumes with less than 700 ME traded since the opening.
Investors still seem to be concerned about the slowdown in growth, the persistence of inflation or even the evolution of monetary policies.
In Paris, the crossing of the resistance of 7360 – which stopped the rebound of the CAC – appears to be the main issue in the short term. The passage of this technical pivot (which has been at work since March 6) could open the way to a return to the annual highs of April.
“The deceleration in the US labor market, however, could be a key catalyst for higher equities and lower bond yields by the end of the year,” said Mona Mahajan, strategist at Edward Jones.
“It would indeed mean that the Fed could finally stand aside by pausing on rates”, continues the analyst.
Investors will learn tomorrow of the figures for industrial orders in the United States, then the ISM services, the next day. These figures will be able to guide operators looking for concrete elements on the health of the economy.
The mid-week publication of industrial orders and then industrial production in Germany should confirm that Europe’s largest economy, the continent’s traditional engine, is showing worrying signs of weakness.
Germany has just revealed this morning a further decline in its exports in July (from 18.7 billion euros to 15.9 billion euros, or almost -10%), confirming the negative trend in the middle of the 3rd quarter.
In the meantime, bond markets continue to deteriorate in Europe with +3 basis points on OATs and Bunds (3.103% and 2.578% respectively), Italian BTPs add +5.5 points to 4.2900%.
Outside the Euro zone, the ‘Gilts’ are still at the bottom with +7pts at 4.5020%.
In the news of French companies, Technip Energies announces the launch, on the occasion of the Gastech 2023 conference to be held from September 5 to 8 in Singapore, of SnapLNG by T.EN, a modular, pre-studied and standardized solution for the production of low-carbon LNG (liquefied natural gas).
Unibail-Rodamco-Westfield (URW) announces that it has sold Westfield Valencia Town Center, a regional shopping center located in Santa Clarita, California, to Centennial Real Estate for a total value of $199 million (100%, URW share of 50 %).
Stmicroelectronics on Monday announced a collaboration with Sindcon, a Singaporean Internet of Things (IoT) specialist, in the field of smart meters.
Finally, Teleperformance (+2.1%) posted the strongest growth in the CAC 40 on Monday on the Paris Stock Exchange, thanks to encouraging comments from Berenberg analysts who posted a buy recommendation and a price target of 225 euros. .
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