The Paris Bourse is expected on a stable note, even slightly down, in a market that remains focused on the evolution of contamination with the Omicron variant. Emmanuel Macron is convening a health defense council on Monday.
Caution in sight on the Paris Bourse, the Omicron variant remains under surveillance
After a gain of 2.3%, the Paris Bourse should approach the last week of the year on a stable note. The weakness of the activity in the absence of many players should accentuate the movements, upwards as well as downwards. In Europe, the London Stock Exchange is closed, as are the Hong Kong and Sydney stock exchanges in Asia.
Caution should remain in order in the face of the surge in Omicron variant contaminations around the world. The barrier of 100,000 cases in 24 hours has been crossed in France. President Emmanuel Macron is due to hold a health defense council on Monday before presiding over a Council of Ministers during which new measures should be discussed, and in particular the transformation of the health pass into a vaccination pass.
Slowdown in industrial profits in China
Asian markets move in dispersed order this morning with China’s CSI 300 hovering around equilibrium around one hour from close. Industrial profits rose 9% in China in November, the slowest pace since May due to a marked reduction in the margins of certain companies linked to the rise in production costs. The market downturn is, however, contained by the prospect of new measures. The People’s Bank of China is indeed committed to supporting the real economy and preserving the rights of property owners. In addition, the president of Evergrande announced that he would deliver 39,000 buildings in December, reports Reuters.
Financial centers have generally progressed last week, several studies suggesting that if the Omicron variant is more contagious than the previous strains, vaccination can greatly reduce the risk of hospitalization. The health authorities nonetheless call for vigilance, while many countries have stepped up their health measures. ” Contaminations at Omicron are increasing in the United States and in Europe, and although the markets have integrated a less virulent strain, the disruptions in goods and services due to the isolation of employees, especially in the airline sector, seem to be the cause. main consequence for the moment Writes Jeffrey Halley, senior market analyst at Oanda.