(BFM Bourse) – The Paris Stock Exchange bounced 1% above 6,500 points, with the Fed’s behavioral behavior discussing in the coming months overshadowed by the dynamics of Chinese markets and Wall Street. The bounce went peacefully, with several operators getting the green light on Whit Monday.
The Paris Stock Exchange gained green value and, after last week’s decline of 0.5%, rose 0.98% to 6,548.78 points. The flag index slowed slightly at the end of the show, CAC 40 gained 1.66% to 6,593.15 points at the highest point of the day around 16:00. Volumes remained low on Monday, trading at 2.7 billion euros. Many operators went out into the field, while the Paris Stock Exchange: Euronext’s public holiday calendar this year hardly gives the opportunity to escape for more than two days (spoiler: the next day the markets will not close before December).
Asian markets, so far closed, kicked off the week positively, with Shanghai up 1.3% and Hong Kong up 2.7% as Chinese authorities continue to ease health restrictions in several major cities in China.
The New York Stock Exchange is currently following the move with a 0.7% increase for the S&P 500, the Nasdaq is recovering 0.8%, while the Dow Jones, after ending a slump on Friday after the job creation announcement (390,000) , gains only 0.3%. month of May. Overall, US indices fell more sharply than in Europe (-1% for the Nasdaq last week, -1.2% for the S&P 500). This week, investors will be watching the European Central Bank’s (ECB) press conference, where Christine Lagarde could confirm a rate hike this summer for the first time in more than a decade … Atlantic’s new inflation reading (CPI) is due on Friday, with economists expect a further slowdown in price growth to + 8.2% in May.
The US rating was pulled by Amazon, whose share price was divided by 20 on Monday, not because of the company’s poor performance, but to make the title more accessible to investors. Twitter is losing almost 3% because Elon Musk has threatened to withdraw its offer for lack of enough information about the number of fake accounts and spam.
News on the part of companies listed in France is completely anemic, except for statements by biotech companies present at ASCO, an important congress that will take place in Chicago until June 7.
Nanobiotix in the spotlight
Among several Paris stocks that made significant progress on Monday, Nanobiotix rebounded by 4.78% after gaining almost 9%, while the company currently presents (among more than 3,000 “abstract”) data on NBTXR3 treatment, which allows to increase effectiveness of radiotherapy. Transgene, which is also present in Chicago, is satisfied with a profit of 1%. The Strasbourg Society collected preliminary data on the TG4050 therapeutic cancer vaccine at this congress of the American Oncological Society on Sunday.
After the decline on Friday when the conditions of the capital increase were announced, Faurecia recovered by 9.76% and offered the head of the SRD, followed by Valeo (+ 6.99%) or Plastic Omnium (+ 3.82%). Several analysts such as UBS have confirmed their positive view of Faurecia.
Societe Generale, which is also favored by the research office, gains 2.64%: for Jefferies, the name target ranges from 25 to 35 euros, while the issue of exposure to Russia now seems integrated (a Yale University study also shows that Russia’s withdrawal was a viable option for most Western companies that left the market, even at the cost of large depreciation).
Following the decision of the board of directors of the Spanish giant Acerinox to end the discussions launched as part of a merger project to create one of the world’s leaders in stainless steel.
In the foreign exchange market, the euro is falling back below $ 1.07. It just fell to a 20-year low against the dollar at 131 yen, while maintaining an accommodative monetary policy weighs on the Japanese currency. On the other hand, the pound strengthens against the dollar before the vote of no confidence in British Prime Minister Boris Johnson. Oil prices are rising at around $ 120 per Brent ($ 119.50, while WTI is at $ 118.47).
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