(CercleFinance.com) – The Paris stock market climbed 0.1%, around 6,275 points, for this last session of the month of October, the most bullish since 2011 or 2015 (it will also be the best month of the year 2020 with a gain of nearly 10% 90 minutes from the close).
The bulk of the end-of-month adjustments took place on October 27 and 28, volumes are halved on Monday, which falls in the middle of the All Saints weekend ‘bridge’: barely 1.2 billion euros exchanged in Paris at after 7 hours of quotations.
The Euro-Stoxx50 and the DAX have gained around 0.2% and also gained 10% since October 1st.
European markets are hesitant after the sharp decline in Chinese indices (-3% in Shenzhen and -3.4% in Hong Kong, with a sharp decline in industrial production linked to the massive confinements of certain cities and regions, within the framework of of the ‘zero Covid’ promoted by Xi-Jinping.
Wall Street is also not helping with -0.5% on the Dow Jones, -0.7% on the S&P500 and -1% on the Nasdaq.
And there is not really much to find comfort in the ‘stats’ in Europe with a further acceleration of inflation to 10.7% in the EU (0.5% more than expected).
This figure is consistent with +10.4% in German inflation and +16.8% in the Netherlands, under the effect of higher food prices (+20.3% in Germany).
A single figure in the United States this afternoon: the Chicago PMI fell to 45.2 against 47 the previous month.
This is not enough to ease the nervousness on the US T-Bonds with a yield that tends by +4Pts towards 4.05%… while the ’30-year’ mortgage rate crosses the 7% mark (more no real estate loan comes out, only those who have 100% cash are still active).
In Europe, Bunds fell by +4pts to 2.1280%, our OATs by +5pts to 2.648%, Italian BTPs by +9pts to 4.242%.
The Fed’s FOMC begins tomorrow, a semi-holiday session that promises to be calm on the markets.
On the foreign exchange side, the Euro fell -0.8% to $0.988, the Dollar Index rose by +0.6% to 111.40.
On the corporate side, the results season will begin to draw to a close, but the week will once again be tinged with several corporate publications.
The week will also be marked by the publication on Friday of US employment figures for the month of October, and by the meeting of the Federal Reserve which should end on Wednesday with a further rate hike of 75 basis points.
In corporate news, Riber’s turnover at the end of September 2022 was down 23% at 12.2 million euros, under the weight of a 51% drop in turnover from MBE systems (equipment molecular beam epitaxy) to 3.7 million.
Stellantis announced on Monday that it had filed for bankruptcy for its joint venture that produced and distributed its Jeep brand vehicles in China. In a statement, however, the manufacturer said it intends to continue to provide services to current and future Jeep brand customers in China.
Finally, Pernod Ricard announces that it has signed a contract with an investment services provider (ISP) for the acquisition of its own shares, for a maximum amount of around 150 million euros between October 31 and November 22. .
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