Thursday , February 25 2021

Depeche – The Paris Bourse lacks fuel at noon (-0.31%)


The Paris stock exchange remained at midnight (-0.31%) Monday, incapable of abandoning its uncertainties between Brexit, Italy and the Sino-US tensions.

At 13:38, CAC 40 lost 15.73 points to 5.091.02 points, in a commercial volume of 951 million euros. On Friday it finished in a small decrease of 0.48%.

The Parisian market opened, before quickly reversing the trend.

On the other hand, Wall Street was prepared to open itself in a dispersed order. The Dow Jones Industrial Index futures contract lost 0.15%, the S & P index based on equilibrium (-0.05%), and the Nasdaq, dominated by technology, bitten 0.07%.

"Now that the revenue season is almost over, we do not see potential drivers of market support," said an analyst at Saxo Bank.

The "bearish factors" are numerous, they said, citing the commercial war, the Brexit and the Italian budget.

Italy is particularly within the reach of investors because the ruling populist coalition has until next Tuesday to send a revised budget to the EU, otherwise it is exposed to financial sanctions. The European Commission considers that this draft budget is based on overly optimistic forecasts of growth and is "out of the woods" with regard to the public deficit.

The project presented by Rome foresees in 2019 a deficit that represents 2.4% of Gross Domestic Product (GDP), when the previous government was committed with a figure of 0.8%.

In this context, investors closely followed the publication of industrial production in Italy. The latter fell 0.2% in September for a month, after rising 1.7% in August, according to the National Statistics Institute (State).

– Total non-green –

In terms of securities, the total rose 0.55% to 50.77 euros, following the increase in crude oil prices. The French group and Angola opened a new deepwater tanker on Saturday. In addition, the group and the national company Abu Dhabi National Oil Company (ADNOC) signed a concession agreement to launch an unconventional gas exploration program in Diyab, an area presented as having great potential.

Suez returns 1.44% to 13.36 euros. The French group said the record of the water distribution in Senegal, with the "suspension and serenity", despite the suspension of the temporary contract that it won in October, resulted from an action brought by its unfortunate competitor SDE.

Euronext sold 0.37% to 53.25 euros despite the increase in net profit of 31.6% to 50.5 million euros in the third quarter, thanks to an increase in all its activities and a policy of cost savings.

Quantum Genomics jumped 10.23% to 3.40 euros, driven by "excellent results" from a Phase IIb clinical study on its most advanced drug candidate, Firibastat, to reduce the high blood pressure of patients with high cardiovascular risk.

© 2018 AFP

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