(CercleFinance.com) – The Paris Stock Exchange should open slightly higher on Monday morning in a market that promises to be deserted on this day of Pentecost, where several major European places such as Frankfurt or Zurich will remain closed.
Around 8:15 a.m., the ‘futures’ contract on the CAC 40 index – June delivery – gained 38 points to 6513.5 points, announcing a rather favorable opening.
After opening in the green on Friday, the Paris market had ended the last session of the week with a limited loss of 0.2% to 6485 points.
But the decline in indices was much more marked on Wall Street, where all markets ended at half mast against a backdrop of mixed economic indicators.
The Dow Jones fell more than 1% to settle just below 32,900 points while the Nasdaq Composite dropped nearly 2.5% to around 12,013 points.
The US economy generated 390,000 non-farm payrolls in May, a number above consensus, but the unemployment rate remained at 3.6%, when it was expected to be slightly lower by economists.
‘The labor market therefore remains very robust’, reacted Commerzbank, for whom ‘due to the persistence of strong demand for labour, the risk of a wage-price spiral persists’ and ‘strong news rate hikes are likely.
After the yo-yo movements of the past few weeks, volumes should remain reduced today due to Whit Monday.
Initiatives look relatively limited a few days before the meeting of the European Central Bank (ECB), which could begin to prepare investors for monetary tightening in the short term.
After the record inflation figures unveiled last week, the ECB appears under pressure to adopt a more restrictive monetary policy, with the possibility of a rate hike as of July.
No major indicator is on the agenda.
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