The Paris Bourse was down 0.54% on Monday, for the fourth consecutive session, still weighed down by confinements in China, the war in Ukraine and the threats that inflation poses to economic activity.
The star CAC 40 index fell 34.01 points to 6,224.35 points. On Friday, he finished down 1.73%, concluding a third week in a row in red (-4.22%).
None of the concerns that have plagued the Paris Stock Exchange for several sessions has calmed down.
“The markets are struggling in the face of the many uncertainties weighing on the economic situation,” note analysts at Banque Postale AM, for whom “caution must prevail in asset allocation”.
In China, millions of Beijingers are working from home on Monday following a new turn of the screw on anti-Covid measures, giving the capital of 22 million inhabitants the appearance of a ghost town like Shanghai before it. The economic effects have already been felt: in two years, China’s exports have never grown so weakly (+3.9% in April).
In addition, the war in Ukraine further undermines prospects at European level. Western countries continue to harden their position: the G7 countries, which accused Vladimir Putin on Sunday of covering Russia “in shame” with his actions in Ukraine, pledged to wean themselves off Russian oil but without giving a timetable precise.
Discussions are continuing in particular within the Member States of the European Union.
Finally, investors are still digesting statements from central banks on their monetary tightening, in order to curb inflation, even if it means weakening economic growth.
On the bond market, “interest rates continue to rise, with in particular ten-year rates which have exceeded levels which had not been reached for several years”, testifying “to a fairly radical change in the perception of operators on future developments, in particular monetary policies”, according to analysts at the Banque Postale.
The French interest rate for the 10-year loan rose to 1.681%, the highest since mid-2014. The spread with the German rate, which is a reference in Europe, also widened, very close to the high of the year.
Danone renews its brands
Danone (-1.25% to 55.40 euros) announced on Friday the acquisition of Dumex, an infant nutrition brand that the group had sold to Chinese Yashili seven years ago, in line with its portfolio renewal strategy. brands.
The war in Ukraine bears defense
The commemorations of May 9 in Russia raised fears of a new escalation in the war in Ukraine, investors turned a little more to defense stocks such as Dassault Aviation, up 1.26% to 161 euros, and Thales, from 1.28% to 112.60 euros.
Euronext CAC40
