The Paris stock exchange is expected to open with a small drop on Monday after Beijing denied an imminent curtailment of its zero Covid policy.
The futures contract for the CAC 40 star index returned 0.16% approximately forty minutes before the session opened. The Parisian rating rebounded 2.77% on Friday amid speculations – denied by the authorities – that China could reverse its strict health policy in the face of Covid-19.
Chinese exports suffered their first decline since 2020 in October, as restrictions and the threat of a global recession also hurt imports, according to official data.
“Even in the best of cases, a reopening is unlikely until the second quarter of next year due to the approach of winter and the likely increase in infections that accompany the winter months,” said Michael Hewson, analyst at CMC Markets. .
This week will be dominated, according to him, “once again by elements from China and further evidence that inflation in the US is retreating.”
And “the mid-term legislative elections in the United States should not have too much effect on the markets”.
Wall Street closed higher on Friday after the release of US employment for the month of October without being able to reverse the losses of the previous three negative sessions.
Unemployment rose slightly in the US in October, beyond expectations, and wage growth slowed. These elements indicate a deceleration of the American economy and therefore of inflation, such as to strengthen the scenario of a soft landing hoped for by the American Federal Reserve (Fed).
Last week, the US central bank and the Bank of England (BoE) raised their policy rate by 75 basis points, a measure aimed at curbing demand by making credit more expensive for households and businesses.
The European Central Bank, for its part, will swiftly take further measures if high inflation persists and impacts medium-term expectations, its president Christine Lagarde warned on Friday.
Values to follow
TF1: in commercial conflict since September, TF1 and Canal + announced on Friday evening that they had signed a “new distribution agreement”, while the subsidiary Vivendi had stopped broadcasting the channels of the TF1 group on all its distribution channels, due to lack of agreement financial.
EDF: the government has asked EDF, and more generally other energy companies, to take measures to free dams and wind farms in order to facilitate the country’s electricity supply this winter, after the announcement of the prolonged unavailability of some reactors nuclear.
pan / y / spi