The Paris Bourse ended Monday on a positive note (+ 0.45%) and above 6,000 points, despite the downturn in the banking sector put under pressure after a massive sale of shares by the American investment company Archegos Capital Management.
The CAC 40 index took 26.70 points to end at 6,015.51 points, after gaining 0.61% on Friday.
To read also: Remuneration of bosses: how do the CAC 40 groups manage in times of crisis?
“
The market is holding up rather well to this new US hedge fund case.
The trend remains positive.
When they exist, selling pressures are very quickly absorbed,
”observes Andrea Tuéni, an analyst at Saxo Bank.
“In
recent weeks, we have felt a wait-and-see attitude, with investors looking for catalysts that can justify either a wave of increases or a major correction
,” he underlines.
Trading volume was low on Monday (2.74 million euros), the first day of a week which will be truncated by the Easter long weekend.
A form of pause was observed in European markets worried about the rise in contamination in the two driving countries in the euro zone.
But depending on the announcements related to the management of the health crisis, the next sessions could be more or less lively.
Market participants wondered about the decision of Archegos to offload at the end of last week of shares held in American and Chinese companies listed in New York, information revealed by Bloomberg.
In addition, they are still wondering about the trajectory of economic growth and also continue to monitor US long rates, which recently had a strong impact on the equity markets.
Nervousness in the financial sector
The banking sector has suffered the turmoil of the Archegos Capital affair: a duo at the bottom of the CAC 40, Societe Generale lost 2.41% to 21.71 euros BNP Paribas dropped 1.94% to 50.67 euros.
Crédit Agricole sold 0.69% to 12.15 euros.
The oil companies are on the rise
The oil giant Total won 1.49% to 39.75 euros, Vallourec (+ 3.04% to 30.20 euros) and TechnipFMC (+ 0.30% to 6.66 euros).
Air France-KLM on the right track
France is "
on the verge of concluding an agreement
" with the European Commission to release new aid for Air France (+ 0.36% to 5.01 euros), Economy Minister Bruno said on Monday. The mayor.
Read also: Air France is studying several options to achieve additional savings
Spanish order for Alstom
The railway manufacturer (+ 1.15% to 41.41 euros) announced that it had received an order of more than 1.4 billion euros for the supply of suburban trains in Spain.
