The Paris stock exchange closed on Monday at 0.80%, a session that took place at low trading volumes and precedes the release of US inflation data on Wednesday. The CAC 40 index gained 52.09 points to 6,524.44 points. It had risen 0.37% last week despite fears of geopolitical tensions in Asia and expectations that the US central bank, the Fed, will continue its tight monetary tightening.
“Today’s increase is seen in the low trading volumes, as it is August“, A context that tends to exacerbate the variations, comments Harry Wolhandler, director of equity management at Meeschaert Amilton AM. The CAC 40 is in “bullish in the wake of a Wall Street close that ultimately was quite robust despite employment data significantly above Friday’s consensus expectations“, He adds.
Equity markets fell on Friday following the release of US labor market data that canceled the Fed’s assumption of a slowdown in key rate hikes. “What will be important this week is obviously the inflation figure in the US which is likely to determine the size of the next rate hike in the US.“, Predicts Mr. Wolhandler, the markets are wondering if it will be”an increase of 75 or 50 basis points“.
On Saturday, a US central bank official asked the monetary institution to continue drastically raising policy rates until inflation actually falls. In Europe, the agreement reached at the end of July by the member states of the European Union to voluntarily reduce their gas consumption, in the face of the drastic reduction in Russian deliveries, will come into force on Tuesday, after its publication in the Official Journal of the EU on Monday. . .
Veolia is ordering
The French giant of environmental services Veolia will sell the waste activities of Suez, a group that has largely absorbed, in the United Kingdom for 2.4 billion euros, in order to “fulfill the main obligations of the UK competition authority“. Its share rose 2% to 24.47 euros.
Marie Brizard gets drunk
The shares of the Marie Brizard Wine & Spirits spirits group jumped 44.63% to 2.56 euros, still supported by the capital increase, declared last week at the AMF, by the European holding company (Cofepp), previously the main shareholder.