Paris (AFP)
The Paris Bourse ended Tuesday below 6,600 points, as the day before, at the end of a rather wait-and-see session still marked by health fears related to the Delta variant as the end of the semester approached.
After opening to equilibrium, the CAC index took 9.41 points to end at 6,567.43 points (+ 0.14%), the day after a drop of 0.98%.
"There are always a few fears concerning the Delta variant" and "always a chase between inflation and central banks", observes Lionel Melka, head of management at Homa Capital, interviewed by AFP.
The rapid spread of the Delta variant in Europe and Asia worries investors as it could cast a serious shadow over the summer season and the resumption of travel.
Market operators also limit the positions taken before the publication of US employment figures on Friday to obtain "an indication of inflation and the reaction of the US Federal Reserve", adds the expert, thus explaining "the wait-and-see attitude "which dominated the meeting.
The debate on the duration of inflation and its possible repercussions for monetary policy has been the number one topic since spring in the trading rooms.
The US Federal Reserve (Fed) reiterates that it wants to wait for the return to full employment before reducing its support for the economy a little.
Therefore, investors will closely monitor the monthly US employment report, the flagship indicator of the week.
Cyclicals have progressed like the leading trio ArcelorMittal (+ 3.47% to 26.39 euros), Saint-Gobain (+ 2.26% to 56.54 euros) and Michelin (+ 2% to 137, 55 euros).
Sanofi lost 0.88% to 88.33 euros while the laboratory will invest two billion euros within five years in research and development in messenger RNA, to take the turn of this innovative technology to l origin of the first vaccines against Covid-19.
Bank stocks have recovered after falling the day before in the wake of falling bond yields.
Societe Generale rose 1.27% to 25.09 euros, BNP Paribas 0.70% to 53.57 euros and Crédit Agricole 1.53% to 11.96 euros.
© 2021 AFP