Cac 40 rebounds after sharp deceleration in Eurozone in June, market news

The Paris Stock Exchange lost its gains from the previous day, slowdown in private sector activity in the euro area in June prevailed over the acceleration observed in China and hopes for a commercial softening of relations between Washington and Beijing. The composite PMI index (synthesis between industry and services), calculated by S&P Global, did indeed hit a 16-month low in June as part of the Nineteenth year. ” The sharp slowdown in eurozone activity in June raises the risk of contraction in the region’s economy in the third quarter The PMI index for June shows a level corresponding to a quarterly increase in GDP of just 0.2%, with polling forecasts such as new orders and business outlook indexes also point to a decline and thus portend a decline in activity in the coming months. sums up Chris Williamson, chief economist at S&P Global.

Around 10:35 am Bedroom 40 lost 0.97% to 5,897.12 points with a business volume of 420 million euros. Contracts future US indices have canceled out the morning growth.

Biden ready to cut tariffs

This week, the United States may announce tariff cuts on about $300 billion worth of Chinese imports in a bid to curb inflation. wall street magazine. Chinese Premier Liu He and the US Treasury Secretary discussed tariffs and supply chain issues via videoconference this morning. And the dialogue turned out to be “constructive,” according to the Chinese Ministry of Commerce, which added that the two sides agreed to better coordinate their macroeconomic policies.

Central banks on the move

The central bank’s actions remain a major concern for investors as the Bank of Australia raised its benchmark interest rate by 50 basis points for the second consecutive time, the highest in the institution’s history. The US Federal Reserve is due to release the minutes of its June meeting on Wednesday, and the ECB will do the same on Thursday.

In the bond market, US Treasury yields are rising again after cutting on Monday due to a national holiday. The price of 10-year bonds tends to 2.9023% against 2.8803% at the close on Friday, while remaining below the 3% threshold. German bonds with the same maturity slipped to 1.2660% after jumping 10 basis points on Monday.

The automotive sector is starting to fall again amid a slowdown in activity in the eurozone. Renault loses 2.3%. However, the group announced that it has hired private equity firm Callista, which specializes in corporate restructuring, to take over its Fonderie de Bretagne plant in Morbihan.

Valeo flounder 2.8%. The French equipment maker announced the acquisition of Siemens’s 50% stake in Valeo Siemens eAutomotive, as part of an agreement signed with the German group in February.

Session engine yesterday Total Energy fell 1.8% as a barrel of Brent fell in a market that remains volatile between fears of falling demand and the risk of shortages.

Remy Cointreau the 4.1% gain supported by Jeffreys’ note changed from hold to buy.

Vice versa, Publicis fell 3.4% as Goldman Sachs downgraded its rating from Buy to Neutral.

Agricultural loan lost 2% as Deutsche Bank moved from a buy to a hold on the stock.