(CercleFinance.com) – The Paris Stock Exchange concludes the session with a decline of 0.58%, to 7,662 points, penalized by the decline of Airbus which concedes 9.4% after a downward revision of its delivery forecasts for 2024, following supply chain problems.
The aircraft manufacturer is now only counting on 770 aircraft deliveries this year, compared to 800 previously, and would therefore not reach the target of 75 aircraft delivered per month until 2027.
Furthermore, the markets are focusing more and more on political news, as we enter the home stretch before the first round of legislative elections in France.
The programs of the three main forces present are criticized for their ‘lack of realism’, or even their danger for the French economy (sudden halt to activity and flight of capital), investors should refrain from taking too frank positions.
Whatever the outcome of the vote, the teams at Apicil, a wealth management specialist, expect a political risk premium to continue in France in the coming year.
‘Since the announcement of the dissolution, the markets have corrected significantly, but in a consistent manner,’ estimates the social protection group.
Risk-taking will remain limited on Wall Street in view of the publication, scheduled for Friday, of the PCE price index, a measure of inflation particularly monitored by the Fed.
On the ‘statistics’ side, American consumer confidence deteriorated in June, but to a slightly lesser extent than expected, according to the index from the employers’ organization Conference Board published on Tuesday.
The index for the month which is ending stands at 100.4 while economists expected it to be 100. The index for the month of May has been revised downwards, to 101.3 from 102.
The sub-index of consumer sentiment on the current situation rose to 141.5 against 140.8 the previous month, but that on the future situation fell to 73 after 74.9 in May.
According to the ConfBoard, the strength of the labor market is currently making it possible to offset household concerns about the future.
Investors are also impatiently awaiting the first debate between Joe Biden and Donald Trump, scheduled for Thursday evening, with a view to the presidential election in November.
The week, however, started under good auspices for bonds, with a reduction in the ‘spread’ between French OATs and German Bunds, which amounts to 71.5 basis points: our OATs eased by -3.3 points towards 3.114%, the Bunds of -2.2Pts towards 2.400%.
On the American market, the yield on ten-year Treasury bonds remains frozen for the 3rd session at around 4.2450/4.2500%.
On the oil side, the barrel of North Sea Brent crumbled by -0.5% towards $85.6.
In French company news, Société Générale announces the completion of its share repurchase program for cancellation purposes launched on May 27: 11,718,771 ordinary shares were repurchased by the bank for a total amount of 279 .8 million euros and will soon be canceled.
Air Liquide plans to invest up to $850 million to build, own and operate four large modular air gas separation units and related infrastructure, in the largest oxygen production facility in the Americas.
CapGemini reports it has signed an agreement to acquire D+I, one of Australia’s leading product design and development consultancies, with R&D laboratories in Sydney, Melbourne and Newcastle.
Finally, Spie announces that its subsidiary Spie Industrie has signed a new contract for two projects strengthening its partnership with Haizea Breizh, a subsidiary of the Spanish Basque group Haizea Wind Group, a partnership initiated for the Saint-Brieuc offshore wind farm project in 2022.
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