The Paris Stock Exchange still undecided
The Paris Stock Exchange ended close to equilibrium on Monday (+0.05%), at the end of a new session with small variations, investors following the negotiations on the American debt ceiling without further information from foreground.
The star CAC 40 index rose 3.36 points to 7,418.21 points. Last week, it had fallen by 0.24%.
The Parisian rating opened in the green before falling into the red in the afternoon, after the opening of the American markets and the stronger than expected contraction of the barometer of manufacturing activity in the New York region. She recovered just before the end of the session.
The markets are in “hesitation”, observes Jeanne Asseraf-Bitton, head of research and strategy at BFT IM.
On the one hand, several institutions dismissed the risks of recession for economic zones, such as the Bank of England for the United Kingdom last week, which testifies to the resilience of economic activity.
But, on the other side, “the signs of a crack” due to “the restriction of credit” with the policy of the central banks for more than a year are seen more and more, she notes.
This is particularly the case according to her for “the number of bankruptcies”, in the United States as in the euro zone, or even concerning certain barometers such as that of the manufacturing industry in the New York region on Monday.
After having been carried by the results of companies, the stock market “lacks a catalyst on the rise”, also explains Ms. Asseraf-Bitton.
Investors are therefore watching, hoping for progress, the negotiations on the American debt ceiling between the Democratic administration and the Republicans. Time is running out to raise this ceiling and allow the United States to borrow more to meet their maturities.
The speeches of the central bankers will also be carefully listened to in order to confirm that a break in rate hikes is still likely from the next meeting in the United States, and by the fall in the euro zone.
On the bond market, the rate of the 10-year loan for France increased slightly, from 2.85% to 2.88%.
Axa without damage
The insurer Axa achieved a turnover of 31.8 billion euros in the first quarter of 2023, an increase of 2% over one year, supported by damage insurance. Its action took 2.43% to 27.60 euros.
Alstom locomotive of the CAC
Alstom jumped 5.23% to 25.75 euros, leading the CAC 40, after an analyst recommendation.
Off road for Rally
The general manager of Teract (Gamm Vert, Jardiland, Boulangeries Louise) Moez-Alexandre Zouari, who has been negotiating for several months to take over the French activity of the struggling distributor Casino, called on the Czech billionaire Daniel Kretinsky, author of a separate offer , to work together.
The action of Rallye, parent company of Casino, fell 6.89% to 1.11 euros, while that of Casino rose 1.98% to 6.71 euros and that of Teract fell by 0 .99% at 6 euros.