The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended down 1.01% on Monday, at the end of a session less nourished in exchanges, due to the absence of American investors, and which took the opposite of the rise in Friday.
The star CAC 40 index fell 74.60 points, ending at 7,314.05 points. On Friday, it had gained 1.34% to conclude its best week since mid-April (+2.43%).
Volumes traded on Monday were reduced (2.6 billion euros) with the closure of US markets due to a public holiday in the United States. No economic indicator was expected.
“Today’s losses mainly follow Friday’s decline on Wall Street,” where the indices fell back a bit after a long bullish streak, said CMC Markets analyst Michael Hewson.
In Paris, Friday’s winners, including luxury stocks, this time pulled the rating down (LVMH -1.75% to 853.40 euros).
After a week marked by the meetings of the major central banks around the world, “the next publications of corporate results will only start in three weeks, so we will live to the rhythm of the news, rather macro-economic, to confirm or invalidate trends”, describes Bertrand Lamielle, managing director of Portzamparc management.
“We are gaining 14% over the year, it’s a good performance. We are in a phase of hiatus, of consolidation and we will need good news to start again”, he judges.
On the bond market, the interest rate on the French 10-year loan, the benchmark maturity, rose sharply to reach 3.03%, its highest level since May 26.
Le Bourget propels the air
On the first day of the Le Bourget air show, companies in the aviation sector made progress.
The aircraft manufacturer Airbus won the largest order ever in civil aviation on Monday, with 500 Airbus A320neos for the Indian company IndiGo. The action took 0.23% to 131.48 euros, while Safran finished best company in the CAC 40 with +1.74% to 142.90 euros. Dassault Aviation sold him 0.12% to 172.40 euros.
Barriers in sight on the profitability of tolls
Companies benefiting from motorway concessions, such as Vinci (-4.00% to 106.06 euros) and Eiffage (-5.41% to 95.54 euros), fell. The newspaper Les Echos said on Monday that the Council of State had paved the way for an increase in the tax burden on these companies, whose profits, higher than those envisaged at the time of the signing of the concession contracts, are eyed by the ‘State.
© 2023 AFP
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