The Paris Bourse took advantage of the progress of banks and Total to align a fourth session of rise in a row. Donald Trump released from hospital, the market is betting on an agreement in Congress on a plan to support the economy.
The Paris Bourse has managed to align a fourth session of increase in a row, driven by the release of Donald Trump , last night, from the hospital, after being tested positive at the end of last week for the coronavirus. The market also continues to bet on an agreement in Congress on a plan to help the economy. As part of his speech to the National Association of Business Economics (NABE), the chairman of the Fed , Jerome Powell , has also reiterated on Tuesday that new budget support were necessary to avoid a slowdown in economic recovery: ” Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses ”.
In Paris, the trend was mainly driven by the rise in banking stocks and by Total . The latter gained 2.3% thanks to the rebound of nearly 8% in oil prices in two days against the backdrop of a risk of reduction in supplies, following a strike by employees in the sector in Norway , and the arrival of tropical storm Delta in the Gulf of Mexico .
Banks, for their part, posted the best sector performance in Europe. In today’s note, Barclays analysts say valuation levels are so low ” it’s hard to ignore ” . Within the Cac 40 , BNP Paribas gained 5%, Crédit Agricole 5.2% and Société Générale 6.7%.
At the close, the Cac 40 gained 0.48% to 4,895.46 points in a business volume of 2.83 billion euros. In New York, the Dow Jones takes 0.29%, but the Nasdaq Composite gives up 0.37%.
Trump wants his debate against Joe Biden
Back in the White House, Donald Trump said he felt ” very good “, but his personal doctor, Sean Conely, felt he was not yet fully out of the woods, adding that he should continue his treatment. on-site processing. His campaign team has canceled electoral meetings in some swing states , but the president intends to participate in the next presidential debate against his Democratic opponent Joe Biden, scheduled for October 15, the spokesperson said. word of his campaign.
Meanwhile, Nancy Pelosi, the Democratic Speaker of the House of Representatives, and Treasury Secretary Steven Mnuchin spoke by phone on Monday and were due to speak again on Tuesday to try to reach agreement on a new budget support plan for the Congress. ” If we manage to obtain some form of stimulus plan, I think that this will be perceived positively by the market insofar as most of the measures of the previous plan have expired, ” said Thai Hui, chief market strategist this morning. Asia at JP Morgan Asset Management.
Engie sells its stake in Suez to Veolia
In the rest of business news, Suez is ahead 4.6%. Engie has given the green light to the sale of most of its stake in Suez to Veolia . Suez denounces a creeping takeover attempt on the part of its competitor.
Lagardère gained another 4.5%. Groupe Arnault, via Financière Agache, holds 6.69% of the capital and 5.07% of the voting rights of the company , indicates an opinion from the Autorité des marchés financiers ( AMF ).
Elior Group rebounded 13.6% after falling more than 30% in one month. The action of the collective catering group has still lost 39% of its value since the start of the year.
Finally, Akka Technologies jumped 39.1%. The group announced a reserved capital increase of 200 million euros at a unit price of 22.50 euros, a premium of 43% over Monday’s closing price. CNP is participating in the operation for 150 million, together with the family group Ricci, for 50 million.
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