The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended up 0.43% on Monday, reacting without panic to the geopolitical events of the weekend, while preparing for a dense week of corporate results.
The flagship CAC 40 index advanced 34.28 points to 8,045.11 points. On Friday, the index finished at 8,010.83 points, falling for the fifth time in six sessions. It thus recorded a second drop in a row over the whole week (-0.63%), which had not happened to it since January 1st.
The CAC 40 index rebounded at the opening on Monday, then experienced a strong acceleration at midday, gaining more than 1.4% after the publication of higher than expected retail sales in March in the United States, a sign that American consumption remains solid.
But this momentum quickly fizzled. On the bond market, government interest rates climbed on Monday: that of France’s ten-year bond stood at 2.95% around 6:20 p.m., compared to 2.86% at Friday’s close.
Evidence of resilience in the U.S. economy is likely to delay the U.S. central bank’s first rate cut, which weighed on the entire bond market on Monday and pushed the 10-year U.S. interest rate higher high for five months.
The governor of the Bank of France, François Villeroy de Galhau, however, indicated to the JDD on Sunday that the European Central Bank (ECB) would “unless there are any surprises” decide to lower its rates on June 6, estimating that the battle against inflation was in progress. goes from being won.
The geopolitical situation in the Middle East is also being scrutinized by investors after Iran launched a massive attack against Israel on the night of Saturday to Sunday, in response to a strike, attributed to Israel, against its consulate in Damascus.
Israel, under very strong international pressure, is waiting for its decision on a possible response, while calls for de-escalation are increasing in order to avoid a conflagration in the region.
Eymane Cherfa, analyst at Myria AM, however, underlines “a feeling of calm on the financial markets today”.
“The fear of an escalation cannot be ruled out but the situation seems contained, we see that the markets have well integrated that on Israel’s side we are taking the time to think about the response” to the attack on Iran, he adds.
Bnp Paribas on the rise
The banking group BNP Paribas announced on Sunday that it would buy the 9% share held by the Chinese Fosun in the Belgian insurer Ageas for “around 730 million euros”.
The stock advanced 0.63% to 65.77 euros.
Solocal about to be acquired
The internet services group Solocal (formerly PagesJaunes) rose 1.83% to 4 cents after announcing the signing of an agreement in principle with its main shareholders, creditors and its industrial partner Ycor with a view to a takeover. by the latter, the company announced Friday.
© 2024 AFP
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