Paris (AFP) – The Paris Stock Exchange advanced at a measured pace ("0.59%) Monday, on the verge of a session poor in indicators, investors always favoring caution in the face of uncertainties around the Brexit, the war Sino-US commercial and Italian budget.
At 09:32 (0832 GMT), the CAC 40 index rose 29.74 points to 5.054.94 points. Friday, he had finished slightly down 0.17%.
"This session, which will be marked by the absence of major indicators, may be an opportunity to catch its breath even if the political risk is likely to be still in the foreground", summarized in a note Christopher Dembik, Head of Economic Research at Saxo Bank.
"The political future of Prime Minister Theresa May is uncertain, it is the whole process of negotiations Brexit with the EU is threatened," he added.
"The political situation across the Channel will be scrutinized as milk on the fire Theresa May has gained some points in recent days, but it remains in a very precarious situation.The stock markets still have no visibility," noted for his share in a note Tangi Le Liboux, a strategist of the broker Aurel BGC.
The European Union, a spectator of the British political battleground on Brexit, launches this week in its own examination of the draft divorce agreement with the culmination of a special summit Sunday to adopt the text.
From Monday, the 27 European Affairs Ministers meet in Brussels for a first political meeting since the publication on Wednesday of the draft agreement on the conditions for withdrawal, which is to prepare the summit meeting of 25 November.
British Prime Minister Theresa May, who has suffered a series of resignations from her government and is facing stiff opposition on all sides over the negotiated text, has announced that she will travel to Brussels in the week to meet with President of the European Commission Jean-Claude Juncker.
Meanwhile, a week before the G20, China and the United States on Saturday exposed the extent of their differences ahead of the Apec summit in Port Moresby, venting on the protectionism and trade against a background of struggle for influence in the Pacific.
Donald Trump had however estimated yesterday that a trade agreement between Washington and Beijing could be concluded "very soon", considering for the first time not to impose additional customs taxes on Chinese imports.
"The evolution around the 5,000 points of the CAC 40 last Friday confirms a downward bias for the market.From our point of view, only an agreement, even imperfect, between China and the United States on the occasion of the G20 of 30 November, which would end the commercial cold war, would be able to reassure the market and allow a lasting rebound ", though" such a scenario seems very unlikely at this stage, "according to Mr. Dembik.
– Nexans in shape –
On the indicators side, there will be little data to inform the session, with the exception of October home resales (NAR) in the United States.
On the values front, Renault lost 3.21% to 62.43 euros. According to the Japanese daily Asahi, the CEO of the Renault-Nissan-Mitsubishi Alliance, Carlos Ghosn, is about to be arrested in Japan for violating financial regulations.
Nexans gained 3.06% to 25.56 euros, taking advantage of an increase in its recommendation to "buy" against "retain" previously by HSBC. The cable manufacturer also announced on Monday to have won a contract worth more than 150 million euros for the supply of an energy export cable for the Hornsea II wind farm in Orsted, North Sea.
Airbus climbed 0.50% to 93.35 euros while the group won from Eutelsat a major contract for the supply of two large broadcast satellites for the satellite carrier HotBird fleet.
Vivendi gained 0.69% to 21.82 euros. The current director of the airline Alitalia, Luigi Gubitosi, was appointed Sunday night at the head of Telecom Italia (Tim), whose French giant owns 24%.
Vallourec continued its debacle (-6.09% to 2.45 euros), having already lost more than 32% Friday, weighed down by concerns about its cash.
Arkema fell by 1.80% to 89.64 euros, penalized by a lowering of its recommendation to "sell" against "neutral" previously by Goldman Sachs.