CAC 40 is on fire. It should open on a small high.
Except for 5 negative sessions, the Paris stock exchange has consistently been increasing. And it should keep the momentum. Market futures announce a stable opening, even in slight progression of the CAC 40.
Most Asian markets ended the night on the rise, in the wake of Wall Street. The Dow Jones had still gained a few points Friday, gaining 2.3% in a week, yet marked by the resumption of economic hostilities between the United States and Iran. The controlled rise in oil has provided support for heavyweights in the energy sector and is currently benefiting the indices. The latest inflation figures are not cause for concern, but of course these indicators remain to be monitored since they condition monetary policy.
In Europe, political risk is materializing in Italy. The two Eurosceptic parties, the 5 Star Movement and the Ligue, have apparently made progress in their discussions this weekend to develop a common agenda and form a government. Their leaders, Luigi di Maio and Matteo Salvini, told the President of the Italian Republic, Sergio Mattarella, that they had agreed on the name of an independent personality for the Council Presidency. They must be received during the day at the presidential palace. The markets do not seem to be affected, for the time being. But the news is all the more worrying as the Italian economy is fragile.
The Italian fan Vincent Bolloré will perhaps give some indications to the market on the strategy of Telecom Italia, in which Vivendi holds 24%, on the occasion of the quarterly publication on Thursday evening. Meanwhile, Reuters reports that the businessman has increased his stake in Vivendi from 20.5 to over 24% between February and April. Voting rights were transferred to avoid crossing the fateful threshold of 30%, which would oblige it to launch a bid for the rest of the capital. Housewifetrading recommends the purchase of Vivendi.
The deal of the day : The Portuguese Government is not opposed to the takeover of EDP by a Chinese public group, EDF Portugais, which is also the largest company in Portugal. A deal worth over 9 billion euros.
Here is what I call a comeback : Mahathir Mohamad. 92 years. Former Prime Minister from 1981 to 2003. Against all expectations, and against all predictions, he beat Najib Razak the outgoing prime minister. Fortunately, Malaysia has strong growth, around 6%, because here again, as in Italy, the promises made during the elections are likely to be very costly.
Despite losing 3-1 against Hoffenheim, Borussia Dortmund made it to the Champions League for next season. Their trainer, Peter Stöger announced his resignation. Lucien Favre, Nizza’s trainer will most likely have a solid ground to take over. Housewifetrading recommends BVB Dortmund in the long term.
Today’s agenda :
- France :
- GDP estimation 2nd quarter
- Treasury bounds arbitrage
- Business survey indicator
- Opec :
- Monthly report
- European Union :
- Meeting between the heads of French, German and British diplomacy with Iranian representatives.
Trade safely and at your own risks.