The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / Eric PIERMONT)
The Paris Stock Exchange ended in a small drop of 0.18% on Monday, catching its breath after a jump in July and hampered by lackluster economic statistics.
The CAC 40 index lost 11.64 points to 6,436.86 points, after experiencing its best monthly performance in July since November 2020.
The Parisian odds spent most of the session up slightly, before finishing just below their level on Friday evening.
Frédéric Rozier, portfolio manager at Mirabaud France, notes a “day of transition” between a phase rich in publications of company results and macroeconomic indicators and a break in the markets with the entry “into a summer period which will make good to everyone.”
In July, global equity indices recorded their best monthly performance of the year, buoyed by better than expected corporate results and the idea that the US Federal Reserve should slow the pace of its interest rate hikes. interest given the weakness of the latest US economic statistics published.
Now “the market is looking for a new breath, we are in an in-between, we need to breathe a little and come to our senses”, comments Mr. Rozier.
Economic data released on Monday showed slowing growth in manufacturing activity in China and the United States in July. And in the euro zone, the contraction in manufacturing activity has been confirmed.
These ominous figures are fueling fears of recession, already present in the minds of investors.
On the bond market, long-term European sovereign interest rates have been falling sharply for several days, to approach short-term rates, “a sign that recession is becoming a strong probability”, according to Frédéric Rozier.
Air France-KLM even higher
The action of the airline Air France-KLM finished at the top of the SBF 120, soaring 5.29% to 1.41 euros, after Oddo and HSBC raised their recommendations, reported the specialized agency Bloomberg . On Friday, the group announced a net profit in the second quarter, for the first time since the summer of 2019 before the health crisis linked to the Covid-19 epidemic plagued the aviation sector.
Teract plants its seed
The Teract group, resulting from the merger between the financial company of the trio Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari 2MX Organic and the distribution branch of the agricultural cooperative InVivo, owner of Gamm Vert and Jardiland, has taken its first steps on the Stock Exchange from Paris on Monday. Its shares replaced the investment vehicle 2MX Organic and jumped 42.09% to 10.60 euros.
Innate Pharma drops out
The Marseille biotech Innate Pharma, specializing in immuno-oncology, has announced the termination of a clinical trial on one of its drug candidates, monalizumab, against head and neck cancer, after results deemed disappointing. Its title fell 7.92% to 2.79 euros.
Spartoo seeks to convince
Spartoo, one of the main online sales companies for fashion items in Europe, announced in a press release on Monday that it had acquired a minority stake in the capital of the SAAJ Paris brand. The title, which came on the stock market a year ago, gained 4.23% to 1.77 euros.
It remains far from compensating for its loss of more than half of its value (-56.33%) since January 1.
© 2022 AFP
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