(CercleFinance.com) – The Paris stock market gained nearly 0.4% this morning, around 6,475 points, notably supported by Renault (+3.4%) or EssilorLuxottica (+3.2%).
The Parisian index must nevertheless deal with the contraction of the S&P Global PMI index, which reflects a decline in the manufacturing sector in France. It fell from 51.4 in June to 49.5 in July, also signaling the first contraction in the sector since November 2020.
Apart from the sustained declines during the pandemic, this decline was also the sharpest since April 2013. Respondents explain it by a slowdown in activity at their customers, shortages of raw materials and weakening demand.
The trend is identical in the euro zone where the final PMI index for the manufacturing industry compiled by the teams of S&P Global slipped to 49.8 in July against 52.1 in June, also signaling the first contraction in the sector since a little over two years.
In the afternoon, the markets will take note of the manufacturing ISM in the United States.
Despite an increase of around 9% in July (ie the best month of July since 1997) caution remains in order on the Parisian market, with the possibility of a future recession.
After the frenzy of announcements in recent sessions (meetings of central banks, avalanche of results, etc.), the next sessions could nevertheless take on a more summery flavor with reduced volumes and less sustained news on the corporate side.
In the United States, the results season is almost coming to an end, since more than half of the components of the S&P 500 index have now unveiled their quarterly accounts.
On the Old Continent, several heavyweights including bp, BMW and Bayer have yet to publish their performance over the coming days.
Regarding currencies, the euro lost a little ground this morning, trading around 1.0220 dollars.
On the bond market, the yield on 10-year US government bonds confirms its decline to 2.65%, while its German equivalent eases towards 0.81%.
Oil prices are falling, still affected by the pessimism of operators on demand due to the sharp slowdown in the economy. The barrel of American light crude is currently losing 1.1% to 97.5 dollars.
In securities news, Ipsen and Marengo Therapeutics announce the conclusion of a strategic partnership to develop in the clinical phase two candidate precision treatments in immuno-oncology based on Marengo’s STAR platform.
Saint-Gobain indicates that on July 29 it finalized the acquisition, announced on May 31, of Kaycan, a company that produces and distributes outdoor building materials in Canada and the United States.
Finally, Vinci Airports indicates that it has signed the acquisition of 29.99% of OMA, an operation allowing it to enrich its portfolio of 13 airports located in northern and central Mexico, which welcomed 23 million passengers in 2019 (18 million in 2021).
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