The Paris bourse ended almost flat on Tuesday after a session in light trading volumes ahead of the year-end holiday, while bond rates fell.
The flagship CAC 40 index gained 0.08%, or 5.81 points, to 7,574.67 points. On Monday, the CAC 40 fell 0.37% to end at 7,368.86 points, the end of the session mainly due to a rise in oil prices under the influence of concerns about the disruption of the shipping of hydrocarbons related to the attacks in the Red Sea.
The market is taking a break, notes Guillaume Chaloin, director of equity management at Delubac AM, who points out that the most important statistic of the week will be Friday with PCE inflation, the gauge of price growth favored by the Federal Reserve System (US Fed ).
In the bond market, the interest rate on the ten-year French government bond fell to 2.52% from 2.61% at Monday’s close. For Mr. Chaloin, this is just a correction after a slight increase the day before.
During the session, new home construction started in the United States, which surprised with a good performance in November (+14.8% for the month).
These numbers in the real estate market were slightly better than expected, which is rather positive because it supports the thesis of a soft landing for the US economy, comments Mr. Chaloin.
Markets hope the US economy will avoid recession and inflation will return to what central banks consider reasonable, allowing them to cut their key interest rates.
The Bank of Japan (BoJ) used to employ investors. The monetary institution left rates unchanged, keeping the short-term rate in negative values (since 2016, rival -0.1%).
Resume trading for Casino
Casino Group, in serious financial difficulties, plans to sell 313 stores, i.e. almost the entire circuit of hypermarkets and supermarkets, to its competitors Intermarch and Auchan.
Casino shares, which were suspended on Monday, fell 8.24% to 72 cents. And the Rally title is now worth 14 cents (-10.76 euros).
Pluxee should be launched in February
Sodexo fell by 0.71% to 98.08 euros. The collective catering and services group announced on Tuesday that on February 1, after the split, it is aiming for the first listing of its new entity Pluxee, which will combine activities for employee benefits and especially food stamps.
Airbus receives orders
Air transport giant Lufthansa has announced an order for 40 Boeing 737-8 MAX aircraft and 40 Airbus A220-300 aircraft worth approximately $9 billion at list price.
British airline EasyJet also confirmed an order for 157 Airbus jets to be delivered by 2034, a deal the planemaker said was worth nearly $20 billion at list price.
Airbus shares rose 0.50% to 139.88 euros.