(CercleFinance.com) – The Paris Stock Exchange should open on a bearish note on Tuesday morning as the session looks calm, Wall Street being closed today for the national holiday celebrating the independence of the United States.
Around 8:15 a.m., the ‘futures’ contract – delivery at the end of July – on the CAC 40 index fell back just 2.5 points to 7396 points, suggesting limited variations at the start of the session.
The Parisian market should take advantage of the absence of American investors to catch its breath, as the end of the first half is a good opportunity to take stock of the past months.
Over the first half of the year, the CAC increased by around 14.5% and is now moving close to the annual highs it had established in April.
Referring to a ‘perfect’ technical and graphical configuration, analysts at Kiplink Finance believe that the Parisian index could quickly come back to test its long-term resistance at 7520 points.
‘Falling inflation, along with some recently released economic data, keeps markets euphoric, being careful to dodge leading economic data, but also any comments from central bankers that monetary policy tightening is a long way off. to be finished,” notes IG analyst Vincent Boy.
But many economists highlight the appearance of an environment deemed less buoyant for the equity markets in the second half of the stock market year.
The issues likely to be on the minds of market participants are well known, namely persistent inflation, faltering economies and continuing rate hikes.
In this market context deemed ‘complex’, the strategists of AllianzGI, the asset management branch of the German insurer, recommend that investors adopt a cautious approach.
“We will have to be selective, favor portfolios that are balanced between styles, avoid excessively indebted balance sheets, excessively energy-intensive industries and prefer companies that have shown their ability to show their prices,” explains Catherine Garrigues, director of equity convictions strategy at AllianzGI. .
On Wall Street, the S&P 500 and the Nasdaq ended Monday’s shortened session up slightly, as many market operators preferred to stay in their positions before ‘Independence Day’.
“We can say that US equities are now very well valued, which we believe should contribute to their underperformance by the end of the year,” underline the teams of Capital Economics.
Apart from the German trade balance figures, no major indicator is on today’s agenda.
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