(CercleFinance.com) – The Paris Stock Exchange should open slightly lower on Tuesday morning, interrupting its rebound that began in recent days in the absence of major catalysts.
Around 8:15 a.m., the ‘futures’ contract on the CAC 40 index lost 27.5 points to 7697.5 points, announcing a note of weakness in the first exchanges.
The Parisian market ended yesterday’s session with a gain of 1% to 7706 points despite the drop of Eurofins, which fell by more than 16% after a vitriolic report from the short seller Muddy Waters on the accounts of the ‘business.
The warning launched last night by Airbus – which is only counting on 770 aircraft deliveries this year compared to 800 so far – could also cast a chill this morning.
The modest rebound signed by the Parisian market over the past week will be put to the test in the coming days by a whole series of important meetings, not only on the economic level but especially on the political level.
Investors should refrain from taking too blunt positions while awaiting the first round of legislative elections in France, the outcome of which will prove decisive for the future of the country.
Whatever the outcome of the vote, the teams at Apicil, a wealth management specialist, expect a political risk premium to continue in France in the coming year.
‘Since the announcement of the dissolution, the markets have corrected significantly, but in a consistent manner,’ estimates the social protection group.
In New York, the Dow Jones ended up Monday evening (+0.7%) but the Nasdaq lost more than 1%, penalized by profit-taking on Nvidia which posted a third consecutive session of correction (-6 .7%).
Risk-taking remained limited in view of the publication, scheduled for Friday, of the PCE price index, a measure of inflation particularly monitored by the Fed.
Investors are also impatiently awaiting the first debate between Joe Biden and Donald Trump, scheduled for Thursday evening, with a view to the presidential election in November.
The week, however, started under good auspices for bonds, with a reduction in the ‘spread’ between French OATs and German Buns, which amounts to 76 basis points.
On the American market, the yield on ten-year Treasury bonds fell below the threshold of 4.24%.
As for oil, prices are stabilizing after two consecutive weeks of progression. The barrel of Brent from the North Sea is stable at 86 dollars, just like that of American WTI which is moving at 81.6 dollars.
The agenda will be light on indicators with only the Conference Board’s consumer confidence index due in the United States in the afternoon.
Copyright (c) 2024 CercleFinance.com. All rights reserved.