Paris (AFP)
The Paris Bourse continued its upward movement Monday at mid-meeting (+ 0.99%), supported by a double optimism surrounding both the trade relations between China and the United States but also between Washington and the United States. Europe.
At 13:31 (12:31 GMT), the CAC 40 gained 57.23 points to 5,819.12 points, in a trade volume of 1.3 billion euros.
The Parisian coast started in the green and gradually continued its ascent.
For its part, Wall Street was preparing to start up. The Dow Jones Industrial Average index futures contract was 0.46%, the broad S & P 500 index 0.47% and the Nasdaq, high tech, 0.58%.
"In a new session of bullish euphoria, the CAC 40 index came to register an umpteenth annual record", exceeding a new symbolic threshold of 5,800 points, observes Thierry Claudé, analyst for Kiplink Finance.
The behavior of the CAC 40 index shows that "positive expectations remain higher than fears," says the expert.
As a result, the further deterioration of the Eurozone manufacturing sector in October did not seem to weigh on the trend.
Because the predominant driver of equity markets, Sino-US trade negotiations, have come closer to a partial agreement, according to the positive comments of Washington and Beijing on the subject.
The chief economic adviser of Donald Trump, Larry Kudlow, thus reported Friday "a lot of progress" in the negotiations on a partial agreement called "phase 1", more advanced than in spring. Beijing for its part evoked "serious and constructive discussions" on Saturday.
US President Donald Trump said the meeting with his Chinese counterpart Xi Jinping, during which the two men intend to initial this partial trade deal, could take place in the US rural state of Iowa.
Another positive news that has helped the trend and supported the values of the automotive sector, the United States may not have to impose additional customs taxes on car imports, said Sunday Wilbur Ross, the US Minister of Commerce.
In addition, investors will listen attentively to Christine Lagarde's first public intervention as President of the European Central Bank, where she will face in Berlin a very critical German public lately against the policy of easy money practiced by the institution.
- Automobiles and banks wanted -
The automotive sector stood out clearly: Peugeot, which wants to form with Fiat-Chrysler the world No. 4 in the sector, climbed 5.01% to 24.53 euros, Renault rising to a lesser extent (+ 0.70% to 47%). , 05 euros).
Equipment manufacturers Faurecia (+ 4.75% to 6.09 euros) Valeo (+ 4.39% to 35.19 euros) and Plastic Omnium (+ 2.23% to 25.18 euros) were not left behind.
Bank stocks rose as a result of a sector rotation: BNP Paribas (+ 2.54% to 48.37 euros), Societe Generale (+ 2.40% to 26.48 euros) and Crédit Agricole (+1, 57% to 11.96 euros).
Commodity stocks including ArcelorMittal (+ 2.7% to 14.41 euros) and Aperam (+ 1.46% to 24.27 euros) benefited from the optimism prevailing in trade negotiations.
Saint-Gobain advanced 1.78% to 37.64 euros after the sale of its expanded polystyrene business in France.
Casino was hardly disturbed (+ 0.84% to 49.01 euros) by the investigation opened by the European Commission on a possible collusion between him and Les Mousquetaires ("Intermarché").
© 2019 AFP