The Paris Stock Exchange rose slightly (+0.07%) on Monday in early trading, still under pressure in the face of the uncertainty of the geopolitical situation in the Middle East, after a sharp decline on Friday.
The star CAC 40 index advanced 4.59 points to 7,029.75 points shortly after 9:30 a.m. On Friday, it fell by 1.42%, which also put it in the red over the week (-0.80%).
On the markets, the week ended with “nervousness” in the face of the crisis in the Middle East, describe Deutsche Bank analysts.
At the start of the session, “some relief was felt as a ground offensive has not yet begun in Gaza and diplomatic channels appear to be open for the moment,” they continue.
Gold, a safe haven which experienced its best week in six months last week, fell while government interest rates increased. The interest rate on the 10-year French bond rose to 3.39%, compared to 3.37% at the close on Friday.
More than a million people have fled in panic from the north of the Gaza Strip, on the outskirts of which Israel continues to mobilize its troops for an imminent ground offensive against Palestinian Hamas.
The war between Israel and Hamas, which has already left thousands dead, was triggered after a bloody and unprecedented attack launched on October 7 by Hamas against Israeli territory.
“The risk for the global economy in the short term remains, in our opinion, an extension of the conflict which would involve Iran,” explains Xavier Chapard, member of the strategy team at La Banque Postale AM.
On the economic side, investors will have little new information on Monday apart from an index of manufacturing activity in the highly industrialized region of New York (Empire State).
They “will remain on the lookout for the results of American companies”, also announces John Plassard, investment specialist for Mirabaud, with some big names like Tesla, Bank of America, Johnson & Johnson, Procter & Gamble and even Netflix.
In France, L’Oréal, Edenred, Renault and Pernod Ricard will publish their accounts on Thursday.
Atos president resigns
Under fire from criticism, the president of the IT group, Bertrand Meunier, resigned and the contested sale project to Czech billionaire Daniel Kretinsky, although maintained, is postponed to “the beginning of the 2nd quarter of 2024”.
The action jumped 5.74% to 5.14 euros, after gaining more than 20% at the opening. Since the start of the year, it has lost more than 42%.
New name for ALD
The European long-term car rental giant born from the merger of ALD and LeasePlan will operate from 2024 under the new “Ayvens” brand, it announced on Monday.
ALD, a subsidiary of the French bank Société Générale whose name appears on the new logo, finalized the acquisition of its Dutch competitor LeasePlan in May. The company’s stock, whose price target was revised downwards by Deutsche Bank on Monday, fell 0.54% to 6.45 euros.
Reprieve for Carmat
The French designer of an artificial heart Carmat announced on Monday that it had carried out a capital increase of 7 million euros supported by three of its historic shareholders, extending its financial visibility until the beginning of 2024. The action jumped 11.11 % to 4 euros although still down by more than 60% in 2023.
fs/mdz/abx