(CercleFinance.com) – The Paris Bourse continues the consolidation started this morning in the wake of the surprise correction that took place in the evening on Wall Street. However, the index reduced its losses half an hour before the reopening of the New York Stock Exchange, with US indices showing a modest -0.2% in pre-opening.
The CAC 40, which lost -1% in the morning, now yields only -0.6% to 5,478 points, the Euro-Stoxx50 for its part lost -0.8%.
The sluggishness of the markets at 24 hours of the ‘three witches’ session is a little unusual, but what is even more so is this November the most bullish in Wall Street history: some tweaks and profit taking were predictable.
“Investors seem a bit stuck between an encouraging long-term outlook, but a short-term reality that is more difficult to accept,” says one trader.
‘Pfizer’s announcements initially supported risk appetite, but the deterioration of the health situation in the United States, where the number of Covid-related deaths now exceeds the threshold of 250,000, then cooled them’ , emphasizes the professional.
The decline continued in Asia, where the Nikkei index of the Tokyo Stock Exchange crumbled 0.4% Thursday at the end of the session.
However, the trend could be reversed again on the back of favorable new information regarding the many vaccine projects under development.
In particular, market participants are eagerly awaiting data on the efficacy of the vaccine developed by AstraZeneca and the University of Oxford, long considered the most clinically advanced.
Several economic statistics have just fallen in the United States: the Philadelphia Fed index stood at 26.3 in November, down six points compared to the previous month, thus marking a deceleration in the growth of the manufacturing activity in the Philadelphia area … it is, however, better than the 25 anticipated.
Bad surprise, however, with jobless claims rebounding from +31,000 (to 742,000), putting a halt to the cycle of improvement in the US labor market.
This does not prevent the Dollar from recovering + 0.2% against the Euro towards 1.1820.
Side values, Alsthom continues the increases with + 2.5% more despite the capital increase that begins these days.
Conversely, oil stocks are suffering with Total (-2%, red lantern of the CAC) and Vallourec (-9%, red lantern of SBF-120).
Bouygues (-0.3%) indicates that its net profit attributable to the group has become largely positive again at 283 million euros in the first nine months of 2020 (against -244 million in the first half), its current operating margin reaching 2.7% against -0.9% over six months.
Fiat Chrysler Automobiles (FCA) and Peugeot have each announced that they have decided to convene their respective general meetings (GA) of shareholders on Monday, January 4, 2021, with a view to approving their merger operation to allow the creation of Stellantis.
Eutelsat (-0.6%) announces the signing of an agreement for the sale of its 51% stake in Euro Broadband Infrastructure (EBI) to Viasat Inc, its 49% shareholder, for an initial amount of 140 millions of euros.
Vinci announces the successful placement of an inaugural ‘Green Bond’ bond issue of 500 million euros, maturing in November 2028, with a 0% coupon, with an oversubscription rate of more than five times.
Invest Securities reaffirms its ‘buy’ opinion on Renault, a stock maintained in its ‘IS selection’, with a price target raised from 32.3 to 43.6 euros, after a 38% increase in the car manufacturer’s stock since the 9th. November.
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