(CercleFinance.com) – The Paris Stock Exchange is down almost 0.5%, the CAC40 has been oscillating around 7,230 points for several hours (in volumes lower than 950MnsE), particularly penalized by the decline in luxury with notably -2.9 % for Kering, -2.6% for LVMH and -2.5% for Hermès… but Air Liquide and Safran (+0.8%) break new absolute records.
The SBF-120 – exceptionally – remains positive by +0.1% at 5,520, the Euro-Stoxx50 falls by -0.4%, also due to the weight of the luxury sector.
Wall Street reopened with a slight decline this Tuesday in a market that lacks direction following the recent fall ‘rally’ which allowed the indices to post four consecutive weeks of increases.
The 3 main New York indices lost between -0.1% (Dow Jones) and -0.3% (Nasdaq), while the S&P 500 (-0.2%) has gained almost 11% since on October 27, +8% on November (best performance in 43 years), a jump which was accompanied by a crushing of volatility.
The VIX index – often nicknamed the ‘barometer of fear’ – is now moving around 12.7 points, in contact with its lowest levels of the year and even since January 15, 2020.
Treasury bonds have had an excellent start to the week with a clear easing of yields on both sides of the Atlantic, with the yield on ten-year Treasuries returning, at 4.385% (stable this Tuesday), to a low more than 2 months old.
OATs and Bunds further eased by -1.5 to -2 basis points to 3.100% and 3.523% respectively.
The publication on Thursday of inflation figures in Europe and the United States will not fail to fuel the debate which has animated the financial markets for months.
In terms of US figures, the price of individual houses continued to increase in September in the United States, although at a less sustained pace than expected, shows the S&P/Case-Shiller index published on Tuesday.
This index, which measures price variations in the country’s 20 main urban areas, increased by 0.3% from one month to the next, which is lower than the rate of 0.7% that was expected by economists.
The widely followed Conference Board ‘confidence’ barometer, which will be published this afternoon in the United States, should show that American households continue to worry about inflation.
In the meantime, operators were able to note an improvement in household confidence in France in November: at 87, its synthetic indicator – calculated by INSEE – increased by three points, but remains well below its average. long period.
48H A few days before an OPEC+ meeting which could reveal some dissensions within the cartel, according to specialists.
North Sea Brent gained 1%, towards $80.8 per barrel, just like American light crude (WTI) which also gained 1%, towards $75.7.
In a note released yesterday, BofA strategists said they expect oil prices to rise next year due to the restocking movement affecting commodity markets.
The American investment bank estimates that Brent should reach an average level of $90 in 2024, while WTI is expected around $86 over the coming year.
In French company news, Ubisoft Entertainment (-9%) indicates that it has successfully completed its placement of OCEANEs (convertible bonds) maturing in 2031 through a public offering intended exclusively for qualified investors, for a nominal amount. of 494.5 million euros.
Atos (-6.5%) confirmed on Tuesday that it had started advanced negotiations with a view to modifying and simplifying certain terms of the proposed sale of its subsidiary Tech Foundations to Daniel Kretinsky.
Nacon publishes a net profit down 61.6% to 3.2 million euros for its first half of 2023-24, but with an EBITDA up 20.1% to 29.3 million, or 43. 2% of turnover compared to 31.4% a year previously.
Spie announces the signing of an agreement to acquire ROBUR Industry Service Group, a company based in Munich, allowing it to establish a strategic position in the German industrial services market in which Spie was previously little here.
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