The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Bourse ended sharply up 1.75% on Monday, relieved by the resumption of negotiations on Ukraine and the drop in oil prices, but the respite remains fragile.
The star CAC 40 index climbed 109.69 points to 6,369.94 points. Friday, he had concluded a turbulent week on an increase of 0.85%.
The Parisian rating opened in the positive and quickly increased its gains, even passing the 2% mark at the end of the morning, then again after the opening of the American markets.
“The market remains complicated” to read and anticipate due to geopolitical vagaries, explains Frédéric Rozier, portfolio manager at Mirabaud.
On Monday, the resumption of talks raised “hopes” and therefore a rebound in the indices, but the movement remains “fragile”, he believes.
The fourth round of negotiations between Ukraine and Russia will resume on Tuesday, a negotiator from Kyiv reported.
On the ground, military operations continue, with Russian shelling of kyiv and Kharkiv as pro-Russian separatists in Donetsk have accused Ukraine of carrying out a strike on the city.
The Russian army “does not rule out the possibility of taking full control of the major cities which are already surrounded”, warned the Kremlin spokesman.
Banks take advantage of rising interest rates
Bank stocks benefited from the rise in rates on the bond market. The rate on the French ten-year loan rose to 0.84%, against 0.74% on Friday at the close.
Rates rose on the eve of the start of the Fed’s monetary policy committee meeting. The institution should raise its rates – lowered to their lowest in March 2020 – in order to combat inflation at its highest in forty years.
Societe Generale climbed 3.92% to 23.08 euros, BNP Paribas by 4.04% to 51.01 euros, and Crédit Agricole by 0.96% to 10.06 euros.
EDF anticipates a plunge in its results for 2022
The title lost 0.09% to 8.72 euros. The electricity producer, which has lost more than 15% since January 1, announced on Monday that it is revising its gross operating surplus forecast sharply downwards for the year 2022, due to corrosion problems in its fleet. nuclear power and the volume of electricity that the state forces it to sell at low prices.
© 2022 AFP
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