Cac 40 struggles to build on gains overnight, recession fears persist, market news

The Paris Stock Exchange fluctuates around equilibrium. The market welcomes the good economic performance and hopes for an easing of Sino-US trade tensions. But recession worries linger in an environment still marked by monetary tightening by central banks.

At 9:45 am Bedroom 40 added 0.09% to 5,959.90 points with a business volume of 220 million euros.

In China, activity in the service sector resumed growth in June, returning to its highest pace in almost a year. The PMI index, compiled by Caixin, was 54.5 points after 41.4 in May. A number above 50 indicates an expansion in activity, while a number below indicates a contraction. S&P Global is to publish its final PMIs for the June services sector in the middle of the morning in the Eurozone.

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.

Analysts believe that financial centers should develop, guided by a reflex reaction to this information, since good news is rare. ” But we don’t see this move significantly impacting global growth and inflationary dynamics. says Charu Chanana, strategist at Saxo Capital Markets.

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 2.9363% against 2.8803% at the close on Friday, while remaining below the 3% threshold. German bonds with the same maturity eased slightly to 1.370% after jumping 10 basis points on Monday.

The automotive sector is in decline again. Renault loses 1.3%. 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 stable. 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 1.4% 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 5.1% gain supported by Jeffreys’ note changed from hold to buy.

Vice versa, Publicis fell 1.6% as Goldman Sachs downgraded its rating from Buy to Neutral.

Among other analyst remarks, Deutsche Bank moved from a hold to a buy on BNP Paribaswhich takes 05%.