The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / Eric PIERMONT)
The Paris Stock Exchange ended down 0.24% on Monday, failing at the end of the session to rebound from its lowest close in a year and a half hit on Friday, as the rate of French ten-year debt hit a higher high since 2012.
The star CAC 40 index lost 14.02 points to 5,769.39 points. Last week, it had fallen 4.84%, falling to its lowest since late February 2021.
After a falling opening, the Parisian rating tried to recover, approaching 5,825 points, but fell again in the last half hour of trading.
“We can see signs of resilience” from the market in the face of the many risks ahead, which were confirmed by a series of gloomy indicators and statements on Monday, said Alexandre Baradez, analyst at IG.
Whether it’s the war in Ukraine, the normalization of monetary policies by central banks to fight inflation or even the economic slowdown, the dangers are “known”, he underlines. They are therefore better and better integrated into stock market prices.
The economic picture drawn Monday was gloomy and “could have justified a more marked decline”, if these signals were not already in the indices, according to Mr. Baradez.
Community services down
The Engie groups (-3.44% to 12.07 euros) and Veolia (-3.28% to 20.03 euros) signed the largest drops in the CAC 40, in unison with the community services sector, after a negative City rating on these companies.
“They were safe havens in the face of the stress of recent sessions. Seeing them fall with an increase in the growth sector, such as luxury, can be a positive sign” on the market trend, adds Mr. Baradez.
Speculators around M6
At least three takeover proposals for the M6 group have been submitted to the Bertelsmann group, according to information from Le Point on Saturday confirmed to AFP by concordant sources. The three candidates would all have filed an offer higher than 19.2 euros per share. But after two sessions up sharply at the end of last week, then the first exchanges of the same ilk on Monday, the title finally lost 4.37% to 13.80 euros.
© 2022 AFP
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