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 opening of the session. Friday closed with 6,035.39 points, down 0.85% in the session but up 1.74% over the week.
After the close of European equity markets on Friday, US markets accelerated the 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 restricting its rates.
While some Fed officials are not comfortable with the current pace of rate hikes and are starting to worry about an excessive tightening, they are hiding it well, says 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 titles: Air Liquide, Orange, Vinci, Worldline and Michelin on Tuesday, 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 indicators of economic activity in the morning PMI for October. Later in the week, a meeting of the European Central Bank is scheduled for Thursday, with an expected increase of 0.75 percentage points in the benchmark interest rates.
The US Federal Reserve (Fed) will also be in line of fire ahead of its meeting early next week.
The Parisian coast will also take a look at China, one of the main markets for its luxury gloves: the Hong Kong stock exchange fell by more than 5% and that of Shanghai lost 1.16%, after the Congress of the Communist Party. At the end, Xi Jinping was reconfirmed freehand to entrust key economic positions to his allies, supporters of the zero Covid policy.
Invest in real estate from € 1,000. Our rankings of the best SCPIs
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 follow Monday:
Solvay: The Paris-listed Belgian chemical group said it expects sales and EBITDA to hit 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 commissioning of the mining activity 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 providing electricity to the automotive industry.