The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Parisian market experienced a session without strong moments on Wednesday, ending in the red after opening higher against a backdrop of latent political uncertainties and while awaiting American inflation on Friday.
The flagship CAC 40 index ended down 0.69% at 7,609.15 points. The day before, it had already fallen by 0.58%.
“Risk aversion is high”, which especially affects the smallest values, notes Clémence de Rothiacob, manager at Richelieu Gestion.
The SBF 120 dropped 0.73%, with only 20 values in the green.
“The rebounds observed in recent sessions are technical rebounds after phases of decline” before political deadlines both in France and the United Kingdom, added Ms. de Rothiacob.
The French are called to the polls on Sunday for the first round of early legislative elections. Across the Channel, elections are scheduled for Tuesday.
Markets are awaiting the publication of a US inflation indicator (PCE) on Friday, the same day as several counterpart indicators in Europe.
From Tuesday, while the markets opened in the green, disappointing Canadian and Australian figures weighed on the markets, and the trend was reversed in Europe.
“Investors remain cautious in the face of gloomy economic indicators and are taking their gains,” summarizes independent German analyst Andreas Lipkow.
On the bond market, around 4:00 p.m. GMT, the French 10-year rate was worth 3.23% compared to 3.16% at the close on Tuesday, that of Germany was at 2.45%, compared to 2.41%.
This difference – called the “spread” – is an indicator which measures investor confidence in a country, in this case, France.
“This is an element that we obviously look at a lot because it measures the country risk,” detailed Clémence de Rothiacob. “He will clearly move depending on the results on Sunday.”
Atos, a complicated rescue
The consortium led by Onepoint, chosen three weeks ago to save the heavily indebted French IT flagship Atos (-6.68% to 1.12 euros), throws in the towel, leaving the way to the Czech billionaire Daniel Kretinsky, rejected at the start June, to resume discussions.
“The Onepoint, Butler Industries and Econocom consortium noted that the conditions were not met to conclude an agreement paving the way for a lasting solution for financial restructuring and implementation” of its project, announced Onepoint, led by David Layani, in a press release.
Airbus does not take off
The action of the European aircraft manufacturer Airbus (-2.82% to 130.98 euros) finished at the bottom of the CAC 40 table, failing to rebound after its fall on the stock market the day before, the result of a warning on results.
© 2024 AFP
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