CAC40: slightly increasing, stops at the threshold of 8000 points

( – The Paris Stock Exchange concludes this first session of the week with an increase of 0.49%, to 7,996 points, well helped by Teleperformance which gains 5% ahead of Axa (+2.5%) and Accor (+1.6%) while across the Channel, the City remained closed.

If the week promises to be calm due to public holidays (armistice then rise), the Parisian index briefly rose above 8030 points at the start of the afternoon (+1%) before giving up half of his gains in the second part of the session.

‘We still expect stocks to rise by the end of the year, but it is likely that the coming months will follow the usual seasonal pattern with only moderate progression,’ underline the J. Safra Sarasin teams.

Investors remain tirelessly waiting for a rate cut from central banks, a prospect that is always uncertain, and even improbable in the short term.

Among the rare indicators on the agenda this week, the consumer confidence index from the University of Michigan will, on Friday, provide a little better insight into the current morale of American households.

On the statistics front, up to 51.7 in April from 50.3 in March, the PMI index of overall activity in the euro zone signaled an acceleration in growth in the private sector, at a pace that is certainly still moderate, but nevertheless the most marked in almost a year.

“This consolidation of the recovery marks the end of the period of prolonged weakness recorded throughout the second half of 2023,” notes Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

However, he also points to strong inflationary pressures which ‘should lead the European Central Bank to show moderation with regard to the extent of a possible drop in interest rates expected in the coming months’.

Other data from the morning, industrial producer prices fell by 0.4% in the euro zone in March compared to the previous month, but excluding a fall of 1.8% for energy, they were on the contrary increased by 0.2%.

For their part, the bond markets continue their improvement with -3.5 points of yield on OATs and Bunds (at 2.985% and 2.475% respectively), T-Bonds turned around in the afternoon and a relaxation of -3Pts around 2:30 p.m. here they display +1Pt base at 4.508%.

The Dollar weakens further and the Euro appreciates symmetrically by +0.2% towards 1.077$/E, the ounce of gold recovers by +0.9% towards 2323 dollars per ounce.
The slide in black gold continues and the barrel of Brent drops practically -1% and falls below $83 per barrel, or -10% since April 14.

In the news of French companies, Atos confirms having received last Friday four financial proposals to provide new liquidity as part of the ongoing conciliation procedure from a group of bondholders and banks, from Bain Capital, EP Equity Investment and Onepoint.

Maurel & Prom announces that it has received a specific license from the US Treasury Department’s OFAC regarding its 40% consolidated stake in the joint venture Petroregional del Lago (PRDL), which operates the Urdaneta Oeste field in Venezuela.

SES announced on Monday that it had been selected by Colombian telecom operator Inred to provide high-speed connectivity services in remote regions of the Amazon.

Airbus announced Monday that Indian company IndiGo would buy 30 Airbus A350-900s from it as part of a firm order estimated at around ten billion dollars based on list prices.

Finally, Bénéteau is publishing this evening a turnover of 229 ME in the first quarter of 2024, down 39% compared to a high comparison base (+57% in the first quarter of 2023).

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