The Paris Bourse starts this week on a very erratic note. In the middle of the day, the Cac 40 oscillates around the balance after having, however, gained more than 1% in the very first exchanges.
The trend remains totally dependent on the evolution of Wall Street, where the S&P 500 narrowly avoided, on Friday, entering the “bear market”, that is to say a drop of more than 20% compared to at its latest high. Down 2.3% during the session, the S&P 500 managed to end up in balance (+0.01%). If the Nasdaq Composite is already in this “bear market” situation compared to its peak in early April, this is a relief for traders, at least in the short term.
Eight weeks of decline for the Dow
” Stocks continue to move with supply and demand, but the mood that drove markets higher for a decade is goneobserves George Ball, of the investment company Sanders Morris Harris.
According to the futures contracts, the American indices are up by around 0.6% to 0.8%.
Wall Street has just experienced another week of decline, the eighth in a row for the Dow Jones (a first since 1923, reports CNBC), the seventh for the S&P 500 and the Nasdaq Composite. Releases fueled by sentiment that rising supply, freight and labor costs will weigh on corporate margins throughout this year, as evidenced by warnings from the two big names in retail American Walmart and Target.
Publicis degraded
Statistically, the Ifo index of German business climate came out a little above expectations, at 93 points in May, against a consensus of 91.3 and 91.8 in April. In the afternoon, we expect sales of new homes in the month of April in the United States (-1.7% expected).
On the value side, Sanofi (+0.5%) announced that the Food and Drug Administration (FDA), the American health authority, has authorized the use of its drug Dupixent for the treatment of patients aged 12 and over suffering from eosinophilic esophagitis .
vinci loses just over 4%. France Info and AFP reported on Friday that Vinci Construction France was indicted in February for “private corruption”, citing the Nanterre prosecution.
Morgan Stanley lowered its recommendation on Publicis from “online weight” to “underweight” with a target reduced from 54 to 48 euros. The action lost 1.9%.