Saturday , October 1 2022

Depeche – The Paris Stock Exchange has no fuel at noon (-0.31%)



The Paris Stock Exchange stayed mid-day on Monday (-0.31%), unable to give up many uncertainties between Brexit, Italy and Sino-American tensions.

At 13:38, CAC 40 lost 15.73 points, to 5,091.02 points, with a transaction volume of 951 million. On Friday, it ended with a small decline of 0.48%.

The Parisian market was opened before the trend was quickly reversed.

In turn, Wall Street was preparing to open in a scattered order. The Dow Jones Industrial Average futures contract lost 0.15%, the large-scale S & P index was around equilibrium (-0.05%), and the Nasdaq, dominated by technology, 0, 07%.

"Now that the earnings season is nearing an end, we do not see potential market support drivers," said a Saxo Bank analyst.

"Bearish factors" are numerous, they said, quoting the trade war, Brexit and the Italian budget.

Italy is particularly in the investors' interest, as the populist ruling coalition presented a revised EU budget by next Tuesday, otherwise it is subject to financial sanctions. The European Commission considers that this draft budget is based on highly optimistic growth forecasts and is out of the reach of the public deficit.

The project presented by Rome predicts a deficit of 2.4% of Gross Domestic Product (GDP) in 2019 when the previous government committed 0.8%.

In this context, investors have closely followed the publication of industrial production in Italy. The latter decreased by 0.2% in September, after a 1.7% increase in August, according to the National Institute of Statistics (Istat).

– Total in green –

As far as values ​​are concerned, Total has risen by 0.55%, to € 50.77, driven by rising oil prices. The French group and Angola inaugurated a new oil field on Saturday. In addition, the group and national company Abu Dhabi National Petroleum Company (ADNOC) signed a concession agreement to launch an unconventional natural gas exploration program in the Diyab area, an area featured as a high potential.

Suez withdrew 1.44% to 13.36 euros. The French group said it would follow with "confidence and serenity" the record of water distribution in Senegal, despite the suspension of the temporary contract it won in October, the result of an action brought by an unfortunate SDE competitor.

Euronext sold 0.37% to 53.25 euros, despite net income growth of 31.6% to EUR 50.5 million in the third quarter due to an increase in all its activities and a reduction in costs.

Quantum Genomics rose 10.23% to 3.40 euros, stimulated by the excellent results of a Phase IIb clinical trial on the most advanced drug candidate, Firibastat, to reduce blood pressure in patients at high cardiovascular risk.

© 2018 AFP

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