The Paris Bourse opens week groping – Le Figaro

The Paris market has regained some tone Monday. The CAC 40 index took 0.57% to 4984.83 points in a low volume of trade of 2.9 billion euros, mainly because of the summer. Friday, it had dropped 0.61%.

Among the other European markets, London finished unchanged (0.01%), while Frankfurt lost 0.41%. Furthermore, the Eurostoxx 50 gained 0.20%.

The Paris market started the session on a sharp rise, briefly taking over 1% and moving above 5,000 points before slow down to go into the red, as a result of a disappointing indicator in the US.

The manufacturing activity in the New York area in August was “far below what was expected “which explains that” the meeting was negative much of the day, “notes Peter Martin, an analyst at Saxo Bank.

Some investors have subsequently process “of cheap purchases,” which contributed to “give a little support” to the market, says the analyst. The market has also benefited ahead of the meeting early Friday evening given by the finance ministers of the euro area to a third plan of aid to Greece, amounting to 86 billion euros maximum. “After the excesses of the past week, the devaluation of the Chinese currency returns a bit into the background,” Renaud Murail also observed, manager at Barclays Stock Exchange. The Chinese central bank (PBOC) has expressed its desire to stabilize its monetary policy and still slightly raised Monday the reference rate of the yuan against the dollar after strong shaking associated with the China market.

The market’s attention will now turn to the US Federal Reserve (Fed), which publishes Wednesday report of its last meeting. “The debate should again focus on this existential question: will the Fed does raise rates in September?” Asked the broker Aurel BGC. The Fed is in a difficult position, since the US economy is improving, but at the same time inflation remains low due to weak commodity prices.

Alstom climbing more than 7%

Among the values, Alstom surged (7.20% to 27.76 euros), while Brussels could give the green light to the repurchase of its energy activities by General Electric according to press reports relayed by analysts.

Airbus Group increased significantly (0.98% to 63.01 euros). The European aircraft manufacturer announced the confirmation by the Indian carrier IndiGo low costs of purchasing 250 A320neo aircraft, worth $ 26.5 billion at list prices, a record order for Airbus.

LafargeHolcim took 1.71% to 61.17 euros after reaching an agreement with Birla Corporation Limited for the sale of a group of assets in India of an enterprise value 750 million Swiss francs (692 million euros).

Credit Agricole has been searched (2.10% to 12.88 euros), benefiting from a rise recommendation by HSBC bank.

The financial sector was also generally well oriented to the Image BNP Paribas (+ 1.67% to 59.12 euros) , Societe Generale (1.28% to 47.30 euros) or Axa (+ 0.86% to 24.11 euros).