The Cac 40 set to return to its peak in February 2020 from the opening, Morning meeting

After a four-day hiatus, the Paris Bourse is expected to rise in the wake of Wall Street, which has benefited from good economic indicators. Around 8:30 am, the contract future April on the Cac 40 index suggests a gain of 0.6% at the opening. It should therefore return to a 14-month high, hit on February 19, 2020 at 6,111.41 points.

In New York, the Dow Jones and the S&P 500 set new records on Monday, boosted by the surge in non-manufacturing activity in the United States, the index calculated by the Institute for supply management (ISM) having reached a record 63.7 points in March. On Friday, the Labor Department announced the creation of 916,000 jobs last month, the highest figure since last August, while the unemployment rate fell 0.2 points to 6% of the workforce.

China monitors credit development

In Asia, the trend was rather downward on Tuesday as the Chinese central bank asked the country’s main banks to limit the granting of new loans until the end of the year, reports the Bloomberg agency citing sources close to the case. Information that took precedence over the acceleration of growth in the services sector, the PMI index standing at 54.3 points in March, against 51.5 in February, according to figures released this morning by Caixin. The CSI 300 of the main capitalizations of the Shanghai and Shenzhen stock exchanges yielded 0.5%, while Hong Kong was closed on Tuesday. In Tokyo, the Nikkei 225 closed down 1.1%.

The yield on the US 10-year bond eased slightly to 1.6871% in Asia, from 1.7% at the US close. Treasury Secretary Janet Yellen told the Chicago Council on Global Affairs on Monday that the $ 1.9 trillion stimulus package is unlikely to generate inflationary pressures. She also called for the establishment of a minimum tax rate for companies at the international level.

Green light from the EU for state aid to Air France

The European Commission has announced that it has approved new aid for Air France, for an amount of up to 4 billion euros, in return for the abandonment of 18 landing and take-off slots at Orly.

Suez indicated that he proposed to the CEO of Veolia, Antoine Frérot, to meet him in the next few days, reaffirming his desire to reach a negotiated solution with his rival.

The banking sector should be watched after the announcement of the departure of two executives from Credit Suisse and the reduction of its 2020 dividend following an estimated loss of 4.4 billion Swiss francs linked to the fall of the Archegos Capital fund.

Among analysts’ ratings, HSBC has downgraded Acts from “purchase” to “keep”. Goldman Sachs noted TF1 from “neutral” to “buy”.

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