The Paris Stock Exchange is patient and takes its profits (-0.86%) - France 24

Paris (AFP)

The Paris Bourse fell Tuesday mid-session (-0.86%) on profit taking, investors preferring to wait before the next big indicators.

At 1:50 p.m. (11:50 GMT), the CAC 40 index lost 43.50 points to 5,037.98 points. The day before, it had increased by 1.49%.

The Parisian odds spent the whole session in the red, falling even almost to the level of the closing on Friday before going up a little.

Wall Street was also preparing to open in the red after the strong gains of the day before.

"Investors have taken the opportunity offered by the disappointing data from German industrial production this morning to cash in on some of their profits," said Pierre Veyret, technical analyst at ActivTrades.

Industrial production in Germany rebounded 7.8% in May, a sign of a moderate recovery, after two consecutive months of plunging in March and April due to the coronavirus. The increase is lower than analysts' forecasts.

The markets prefer to wait before the next deadlines, such as "the report of the International Energy Agency on crude oil stocks on Wednesday", "the requests for weekly unemployment benefits in the United States on Thursday" as well as " the corporate earnings reporting season, "said Mr. Veyret.

This period "will be crucial, especially in terms of business forecasts," said Vincent Juvyns, a strategist at JP, during a video conference call. Morgan.

Conversely, "the new normal of the increase in the number of coronavirus cases worldwide no longer seems to be a real subject for investors," notes Christopher Dembik, head of economic research at Saxo Bank.

-Sodexo does not convince-

The pandemic continues to progress in the United States, where another 55,000 new cases were identified on Monday. In Arizona, almost 90% of the beds in intensive care are now occupied.

India is now the third country most affected in number of cases, behind the United States and Brazil. Some countries, such as Spain and Australia, have reconfigured part of their territory.

The morning was also marked by the forecasts of the European Commission, logically gloomy. Eurozone GDP is expected to fall by 8.7% in 2020, before rebounding in 2021 (+ 6.1%), more pessimistic expectations than the last ones, published in early May.

In terms of values, the automobile continued to occupy the top of the CAC40: Renault rose 0.82% to 23.47 euros, Peugeot 0.61% to 14.79 euros.

Conversely, real estate companies declined like Unibail-Rodamco-Westfield which gave up 2.84% to 51.96 euros and Klepierre 4.89% to 16.74 euros.

Sodexo, which opened the period of corporate results, lost 4.99% to 61.28 euros, all the way down from the SBF 120. The group published Tuesday activity in the 3rd quarter slightly better than its forecasts dating from April , but anticipates a 28% drop in turnover in the second half of its staggered financial year.

The construction giant Bouygues announced Tuesday that it had been chosen to carry out the third phase of the redevelopment of a district of Canning Town, east of London, a project valued at 264 million euros, advancing by 0.24% to 32 , 76 euros.

© 2020 AFP