The Paris stock exchange is expected to rise early Monday, the upward current of the Wall Street rebound at the end of last week takes precedence over concerns in Asia following the reconfirmation of Chinese President Xi Jinping.
The futures contract for the CAC 40 star index advanced 0.40% approximately forty minutes before the session opened. Friday closed at 6,035.39 points, down 0.85% during the session but up 1.74% over the week.
After the close of European equity markets on Friday, US markets accelerated their upside, the three major indices took about 2.4%, thanks to a lull in rates and comments that allowed investors to project themselves into an environment. where the US central bank is not significantly tightening its rates.
“If some Fed officials are not comfortable with the current pace of rate hikes and start worrying about an excessive tightening, they are hiding it well,” said CMC Markets analyst Michael Hewson.
After the luxury and the first companies, the wave of results will reach a climax this week, with only for the CAC 40 almost half of the values: Tuesday Air Liquide, Orange, Vinci, Worldline and Michelin, Carrefour, Dassault Systemes, Unibail and Thales on Wednesday, Capgemini, Danone, Saint-Gobain, Schneider Electric, STMicroelectronics, TotalEnergies on Thursday, Airbus, Safran and Sanofi on Friday.
But there will also be macroeconomic news, with the first PMI economic activity indicators for October starting in the morning. A meeting of the European Central Bank is scheduled for Thursday later in the week, with a 0.75 percentage point increase in the key key reference rates forecast.
The US Federal Reserve (Fed) will also be at the forefront ahead of its meeting early next week.
The Parisian rating will also look to China, one of the main markets of its luxury giants: the Hong Kong stock exchange fell by more than 5% and that of Shanghai lost 1.16%, after the Communist Party Congress. At the end, Xi Jinping was reconfirmed with a free hand to entrust key economic positions to his allies, supporters of the “zero Covid” policy.
The election of a new Conservative Prime Minister in the UK is also worth keeping an eye on, since the country has been a source of market turmoil since the presentation of a mini-budget in September, which was then rejected.
Among the values to follow on Monday:
Solvay: The Belgian chemical group, listed in Paris, said it expects “sales and EBITDA to reach new records in the third quarter of 2022” and drastically raised its forecasts for the year, in a press release released Monday. Its results are expected on November 3.
Imerys: the French industrial mining group announced on Monday the start of the extraction by 2027 of a lithium deposit in the Allier in France (center), which will be “one of the largest” in Europe, and will serve to accelerate the energy transition by fueling the electric vehicle industry.
fs / cdu / spi