The Paris Bourse will continue its decline on Monday, in the wake of Wall Street on Friday and Asian financial centers this morning, China’s decision to lower its prime lending rate, for the first time since the start of the epidemic being widely anticipated. Half an hour before the first exchanges, the Cac 40 future contract suggests a further drop of around 2%, after a loss of 1.12% on Friday.
Concerns remain over the spread of the Omicron variant, as the World Health Organization (WHO) said the number of cases doubled in just 1.5 to 3 days in infected areas.
Omicron ” unleashed ” worldwide
In Europe, the Netherlands have reintroduced much stricter restrictions while France has decided to curb outdoor festivities in the Christmas-New Year period. Italy, she could impose the wearing of the mask outside and would consider a shortening of the validity of vaccine passports. In the United States, Anthony Fauci has said further containment is unlikely but the White House special adviser on the pandemic sees the hospital system under pressure. Omicron ” unleashed Around the world, he said over the weekend.
What to raise uncertainties about growth. Goldman Sachs has lowered its expectations for US growth for 2022, as has the Banque de France this morning. If it raised its forecast for this year to 6.7%, it only expects a 3.6% increase in GDP in 2022 due to tensions on supplies and the resurgence of the Covid-19 pandemic in France. This Monday morning, the barrel of Brent fell by more than 2%.
We’re talking about the Biden plan again …
Add to that a new episode in President Joe Biden’s long attempt to pass his $ 2,000 billion stimulus package. This is indeed endangered after the statements of Senator Manchin, who intends to oppose this law, worrying about its impact on inflation and debt. His vote is decisive in a Senate with a very narrow Democratic majority.
The economic program of the day is very light. In the afternoon, we are simply waiting for the composite index of leading indicators from the Conference Board for the month of November.
Several disposals on the business side
There is also little news from the business side. BNP Paribas will sell to BMO Financial Group its subsidiary Bank of the West, which operates its commercial banking activities in the United States, for an amount of 16.3 billion dollars (approximately 14.5 billion euros).
Klépierre, he sold two assets in France and Germany for a total amount of 345 million euros.
Icade, for its part, buys three retirement homes in Orpea for 57 million euros.