The Paris Bourse depressed Thursday, plagued by several negative health and economic news that weigh on investor morale, yielding 2.11%.
The CAC 40 index dropped 104 points to 4,837.35 points, after losing 0.12% the day before.
The markets accuse the blow of “several negative catalysts in common thread for several sessions”, whether it is the worsening health crisis or the negotiations around the support plan for the United States which do not succeed, comments for the AFP Andrea Tuéni, analyst at Saxo Banque.
“The new restrictive measures that will be adopted in Europe raise questions about the economic recovery” and investors fear the next step, “if ever the situation does not improve,” said the expert.
The markets are also struggling to deal with the “lack of visibility” relating to the stimulus package in the United States, which seems “increasingly unlikely before the US presidential election” due to “very distant” positions between the government Trump and the Democratic opposition, he argues.
Next to the pessimistic comments of Steven Mnuchin, the Secretary of the Treasury, on the possibility of reaching an agreement before the November 3 election, US President Donald Trump again said Thursday he was ready to take up his offer. administration to unblock negotiations.
This new boost to the economy is necessary especially as Thursday, several publications from across the Atlantic were rather disappointing. Weekly jobless claims began to rise again last week, unexpectedly, showing the fragility of the recovery of the world’s largest economy.
Manufacturing activity also developed in contrasting fashion in October, recording moderate growth in the New York area, but a sharp rebound around Philadelphia.
However, “it is neither the macroeconomic figures nor the microeconomics which are at the center of the attention of investors”, but the health issues and American recovery, insists Mr. Tuéni.
More than half of the countries in the European Union, along with the United Kingdom, are listed in red in a new European map on travel restrictions released by the European Center for Disease Prevention and Control (ECDC) on Thursday.
Exposed to the consequences of measures restricting individual freedom, the travel sector has paid a heavy price, like Accor (-5.32% to 22.76 euros) and Air France-KLM (-1, 90% to 2.94 euros).
Banks have been pulled down in the risk aversion movement, while uncertainty reigns around a possible merger between Italian bank Banco BMP and Crédit Agricole (-3.23% to 7.25 euros ). Societe Generale (-4.03% to 11.83 euros) and BNP Paribas (-2.72% to 31.67 euros) also suffered.
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