Paris (AFP)
The Paris Bourse ended down Monday (-0.91%), falling below 6,000 points, weakened by profit taking, on the eve of ending a particularly prosperous 2019.
The CAC 40 index lost 55.17 points to 5,982.22 points, in a low volume of 1.9 billion euros. Friday, it had finished without much movement (+ 0.13%) but nevertheless at its highest annual closing. Since January 1, the index has gained 26.46%.
The Parisian rating remained in the red throughout the session.
"We expected a rather dull session, but the profit taking was a little more supported than expected," said AFP, Daniel Larrouturou, equity manager at Dôm Finance.
"The fall was accentuated by the bad orientation of Wall Street", he added, all in "low volumes in the absence of many investors".
"The rise in borrowing rates on the debt market has, however, allowed the banks to decrease less," added the expert.
Beyond the session of the day, "the mood remains (however) optimistic, in particular thanks to" the hope of the signing of a phase 1 trade agreement between the United States and China in January "also said Franklin Pichard, managing director of Kiplink Finance.
The two world powers agreed in December to a truce in their customs tax escalation, pending the signing of a preliminary agreement, which could come as early as January.
Since March 2018, Beijing and Washington have imposed reciprocal punitive tariffs on hundreds of billions of dollars of goods, which is severely affecting the Chinese economy and slowing the global economy.
In exchange for the Chinese commitments made a week ago, the Trump administration has given up on imposing new tariffs. And under the terms of the agreement, it also agreed to halve those imposed on September 1 on 120 billion dollars of Chinese imports.
On the statistical side, the promises of home sales in the United States rebounded stronger than expected in November, but that was not enough to reverse the trend.
© 2019 AFP