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The Paris Bourse coldly welcomes the Sino-American trade agreement - France 24


The Paris Bourse coldly welcomes the Sino-American trade agreement

Paris (AFP)

The Paris Stock Exchange ended in slight decline (-0.14%) Wednesday, coldly welcoming the imminent signing of the Sino-American trade agreement and already worried about the next steps.

The CAC 40 index fell from 8.28 points to 6,032.61 points, in an average trading volume of 3.6 billion euros. The day before, it had finished without trend (+ 0.08%).

"The market is very cautious. He does not expect much from the agreement that will be signed in the early evening in Washington and prefers to focus on the purchase of defensive titles", observed AFP Daniel Larrouturou , equity manager at Dôm Finance.

"Risk aversion also leads to a relaxation of the debt market and on the stock market indices a drop in financial and cyclical values", the most sensitive to the economic situation, he said.

US President Donald Trump is due to initial Wednesday evening in the presence of Chinese Deputy Prime Minister Liu He, an agreement synonymous with a truce in the trade war with Beijing.

"The main subjects are not addressed or only partially, namely the systematic aid by Chinese public subsidies to a very important set of Chinese companies," noted Mr. Larrouturou.

"And today, the good humor of the United States has not crossed the Atlantic," noted the expert. "In Europe, the markets are looking for, without finding them, the catalysts for future increases."

In terms of indicators, it was especially the slowdown in German growth of 0.6% last year due to trade tensions, which caught the attention.

- L'Oréal in mind -

On the securities front, defensive stocks, considered to be the safest in an uncertain context, were in demand.

L'Oréal thus took the lead in the CAC 40 index with an increase of 2.12% to 269.40 euros.

The banking sector has suffered from falling borrowing rates in the debt market.

BNP Paribas lost 2.32% to 50.96 euros, Societe Generale 1.54% to 30.95 euros and Crédit Agricole 1.20% to 12.77 euros.

Cyclical stocks were also penalized, like Peugeot (-2.63% to 19.96 euros) or ArcelorMittal (-3.03% to 14.68 euros).

Altran Technologies jumped 2.78% to 14.44 euros for its resumption of trading. The title had been suspended the day before at the request of the AMF after Capgemini (+ 0.57% to 114.90 euros) raised its purchase price on Altran at the last minute.

ADP sold 0.39% to 177.20 euros. Traffic at Paris airports recorded a 2.5% increase in 2019 to reach a total of 108 million passengers, although it was affected in December by strikes.

GL Events took 1.48% to 23.90 euros, strong from an activity which jumped during the past financial year, thanks to an excellent fourth quarter.

© 2020 AFP

Source: france24

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