The Paris Stock Exchange finished Monday with a slight fall of 0.18%, having caught its breath after the July surge and was under pressure from weak economic statistics.
The CAC 40 lost 11.64 points to 6,436.86 after posting its best monthly performance since November 2020 in July.
Paris odds edged up slightly for most of the session before closing just below their level on Friday night.
Frédéric Rozier, portfolio manager at Mirabaud France, notes a “transitional day” between a phase rich in company and macro releases and a break in the markets with “a summer that will benefit everyone.”
In July, global stocks recorded their best monthly performance of the year, helped by stronger-than-expected corporate results and the idea that the US Federal Reserve should slow the pace of interest rate hikes, given the weakness of recent US economic statistics. published.
Now “the market is looking for a new breath, we are in between, we need to breathe a little and recover,” Mr. Rozier comments.
Economic data released on Monday showed a slowdown in manufacturing activity in China and the US in July. And in the eurozone, a contraction in manufacturing activity was confirmed.
These ominous numbers are fueling recessionary fears already in the minds of investors.
In the bond market, long-term sovereign interest rates in Europe fell sharply over the course of several days, approaching short-term rates, Frédéric Rozier said, “a sign that a recession is becoming a high possibility.”
Air France-KLM even higher
Shares of Air France-KLM ranked first on the SBF 120, rising 5.29% to 1.41 euros after Oddo and HSBC raised their recommendations, according to Bloomberg. On Friday, the group posted a second-quarter net profit for the first time since the summer of 2019 before the aviation sector was hit by the Covid-19 health crisis.
The attack plants its seed
The Teract group, which was formed from the merger of the financial company of the trio Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari 2MX Organic and the distribution arm of the agricultural cooperative InVivo, owner of Gamm Vert and Jardiland, took its first steps on the stock exchange from Paris on Monday. Its shares replaced investment vehicle 2MX Organic and jumped 42.09% to €10.60.
Innate Pharma drops out
Marseille biotechnology company Innate Pharma, which specializes in immuno-oncology, has announced that it has stopped clinical trials of one of its drug candidates, monalizumab, against head and neck cancer after results were deemed disappointing. His title fell 7.92% to €2.79.
Sparta tries to convince
Spartoo, one of the main online fashion retailers in Europe, announced on Monday in a press release that it has acquired a minority stake in the SAAJ Paris brand. The title, which appeared on the stock market a year ago, rose by 4.23% to 1.77 euros.
It is still far from making up for the loss of more than half its value (-56.33%) since January 1st.