The Paris Stock Exchange rose slightly on Monday, cooled by Wall Street after a rebound at the end of last week, and approached a little over 6,000 points despite the gloomy macroeconomic context.
The CAC 40 advanced by 0.13% 5,939.48 points around 8:30 GMT.
The Paris market ended Friday up 0.90%, and advanced for the second week in a row, while certain indicators, including stronger than expected US inflation, could have worried investors.
But Friday night, Wall Street ended down, calling the world markets to order whose rise had been described as ridiculous by Craig Erlam, an analyst at Oanda.
At issue: retail sales in the United States in September, which were slightly below expectations, and an index of American consumer confidence showing that they expected high inflation for a long time, despite the already significant efforts deployed by the US Federal Reserve (Fed) to slow the rise in prices.
Now all eyes are on London, where new finance minister Jeremy Hunt on Monday brought forward some of the measures in his medium-term budget plan, which will be unveiled in full on October 31.
The interest rate on British debt fell sharply to 4.023%, while the pound jumped 1.43% to 1.1260 dollars.
We will remain in an extremely volatile environment, marked by strong monetary tightening which will be accompanied by a decline in activity, the magnitude of which will be all the more significant as inflation remains high, believe analysts at the Banque Postale .
TotalEnergies: prolonged strike and rebate
The strike in the French refineries of the TotalEnergies group (+1.59%) was renewed Monday morning at five sites. Prime Minister Elisabeth Borne also announced on Sunday evening the extension of the rebate of 30 cents at the state pump until mid-November, assuring that Total would also extend its rebate of 20 cents.
Luxury under surveillance
Luxury stocks were down after the opening of the Communist Party Congress in China, a key market for the sector, which has slowed for more than two years due to the pandemic.
In his speech, President Xi Jinping praised its zero Covid policy despite its economic impact and said China had thus put human lives first.
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Hermes sold 1.45% to 1,256.00 euros, LVMH 1.09% to 618.40 euros, while Kering took 0.11% to 448.50 euros.
Contract for Faurecia
The equipment manufacturer Faurecia (+ 0.29% 12.25 euros) will supply Hyvia, a joint venture between Renault and Plug, hydrogen storage systems which will be used in Renault Master H2-Tech models, according to a press release.
Rat shot for OL
The listed holding company of Olympique Lyonnais was abandoned on Monday (-1.10% to 36.00 euros) despite the announcement on Friday of a sharp rebound in its activity at the end of its 2021/2022 financial year, which allowed it to raise the bar after a historic loss linked to the pandemic during the previous year.