PARIS (Agefi-Dow Jones)–The Paris Stock Exchange is expected to open slightly higher on Monday, after the conclusion of an agreement on the debt ceiling in the United States. Trading volumes, however, are likely to be sluggish as markets are closed in the US and UK due to a public holiday.
At 8:25 a.m., the CAC 40 futures contract gained 9.5 points, or 0.1%, according to data from broker IG.
US President Joe Biden and Speaker of the House of Representatives Kevin McCarthy said on Sunday evening that they had settled the final points of their agreement on an increase in the debt ceiling of the United States. The vote on this compromise in Congress could take place as early as Wednesday in the House of Representatives in order to respect the deadline of June 5, the date on which, according to the Treasury Department, the federal state could find itself short of money to honor its financial commitments.
On the business side, the oil giant TotalEnergies announced on Friday evening that its American counterpart ConocoPhillips had notified it of the exercise of its right of first refusal for the acquisition of a 50% stake in the oil sands field of Surmont, held by TotalEnergies EP Canada (Tepca). The amount of the transaction could be around 3 billion euros.
The group of retirement homes and clinics Orpea for its part announced the convocation on June 16 of its shareholders and its creditors to vote on its accelerated safeguard plan.
No economic indicator should be published on this public holiday in France. No events are planned on the business side either.
-Pierre-Jean Lepagnot, Agefi-Dow Jones +33 (0)1 41 27 47 95; pjlepagnot@agefi.fr ed: LBO
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
May 29, 2023 02:26 PM ET (06:26 GMT)
2023-05-29 06:26:00
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