The Paris Stock Exchange conservative, between trade conflict and Italian crisis (-0.97%)

Paris (AFP)

The Paris Bourse remained misguided (-0.97%) Friday at midday, investors favoring caution while waiting for more elements on the trade dispute and the Italian crisis.

At 13:21 (1121 GMT), the CAC 40 lost 52.37 points to 5.335,59 points, in a trade volume of nearly one billion euros. The day before, he had closed on a gain of 2.31%.

The Parisian coast has opened in decline and has not managed to turn his head since.

Wall Street was preparing to open also down. The index futures on the index Dow Jones Industrial Average lost 0.54%, the broad index S & P 500 0.63% and the Nasdaq, strong technological color, 0.87%.

"Italy takes center stage and pulls Europe down" while Matteo Salvini called for new elections, summed up Michael Hewson, an analyst at CMC Markets.

The strong man of the Italian government and head of the League has created a surprise on Thursday night: he called for early elections, breaking the populist coalition established 14 months ago with his ally Movement 5 Stars and causing a crisis in the world. uncertain outcome.

"The markets will now wait, once again, the next sequence in the Sino-US confrontation," also said Tangi Le Liboux, a strategist of the broker Aurel BGC.

On Thursday, the stock indexes had benefited from a relative lull, in the absence of bad news and thanks to the stabilization of the Chinese currency.

Signs that tensions are far from over, the US Department of Commerce announced in the evening the imposition of countervailing duties on billions of dollars of imports of kitchen cabinets and bathroom cabinets made in China .

In terms of indicators, producer prices fell in China last month for the first time in three years. Japan, on the other hand, posted stronger growth in the second quarter.

In France, industrial production fell sharply in June, and Germany recorded a trade surplus in June, slightly down on May.

- STMicroelectronics in the lead -

In terms of values, STMicroelectronics was at the top of the CAC 40 index, gaining 1.02% to 15.87 euros, supported by an increase in its recommendation to "buy" by Goldman Sachs.

The banking sector was suffering from the new easing of borrowing rates on the bond market. Crédit Agricole lost 1.11% to 10.22 euros, BNP Paribas 1.88% to 39.98 euros and Societe Generale 1.67% to 22.39 euros.

Very affected by the relaunch of the commercial conflict, the mining companies once again stung their noses. ArcelorMittal lost 5.01% to 12.33 euros, Aperam 3.97% to 20.34 euros and Eramet 0.56% to 40.62 euros.

© 2019 AFP