Paris (AFP)
The Paris Bourse was in a bad position Thursday morning (-0.92%) in the wake of the closing of Wall Street, made nervous by the intensification of commercial uncertainties, while waiting for the publication of the report of the last meeting of the ECB.
At 09:50, the CAC 40 lost 49.64 points to 5,329.34 points. On Wednesday, the index finished down 0.12% at 5,378.98 points.
The Paris market has opened down "in the wake of the closing of US markets and fears about the evolution of trade relations between Washington and Beijing," summarized in a note analysts at Mirabaud Securities Geneva.
According to them, "the tensions have gone up a notch after Panasonic joined the list of groups that announced cut all or part of their links with Huawei," the Chinese manufacturer of smartphones and telecommunications equipment.
The news came the day after the announcement of the suspension by four major Japanese and British operators marketing new models Huawei, these devices may lose much of their interest without the contribution of US technologies.
Panasonic will stop supplying components, without specifying which, to Huawei and its 68 affiliated companies subject to the ban of the US government.
At work for almost a year now, the imposition of punitive tariffs between Beijing and Washington seems sometimes inextricable, while neither side seems to give way.
Wednesday, Treasury Secretary Steven Mnuchin acknowledged that US consumers could pay more for a few products because of tariffs on goods from China equivalent to $ 250 billion in imports, contrary to the denials of the US President Donald Trump.
The Chinese ambassador to the United States, for his part, accused Washington of having repeatedly "changed its mind overnight" and thus failed agreements likely to end the trade dispute.
"The uncertainties surrounding these trade negotiations will last at least until the G20", according to Aurel BGC.
Investors will also be attentive to the publication, in the middle of the day, of the minutes of the last monetary policy meeting of the European Central Bank (ECB), the day after that of the Fed.
"Overall, the minutes of the last political meeting" in the United States "showed that officials were generally using their current standstill posture," analysts said broker Aurel BGC.
On the side of stocks, Derichebourg released 8.29% to 3.21 euros penalized by the fall in its net profit in the first half of its fiscal year off 2018/2019, due to an unfavorable environment affecting its metal processing business .
Oil sector stocks continued to be hurt by lower prices due to higher US reserves. Trade conflict affected the commodities market more generally.
CGG fell 5.68% to 1.48 euros, Vallourec fell 3.59% to 2.23 euros or TechnipFMC 1.01% to 0.93 euros.
? 2019 AFP