After a weekly gain of 2.3%, the Paris Bourse begins the last week of the year on a hesitant note in a market which remains focused on the acceleration of contamination with the Omicron variant. 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.
At 9:15 am, the Cac 40 was stable at 7,083.42 points (-0.04%).
The tourism sector is declining likeAir France-KLM (-0.9%), ADP (-1.7%) and Accor (-0.9%). In the United States, more than 1,000 flights were canceled this weekend due to the unavailability of many pilots and crew members infected with the Omicron variant.
The bar of 100,000 new coronavirus infections 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. Other measures should be addressed, such as reducing isolation times for infected people or simple cases of contact in order to limit the duration of sick leaves and their consequences on economic activity.
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.