The Limited Times

Now you can see non-English news...

The Paris Stock Exchange in sharp decline, weighed down by the new variant of Covid-19


The CAC 40 fell 4.75% on Friday, following the appearance of a worrying new variant in South Africa. All the rising mo

Black Friday on stocks.

The appearance of the new variant B.1.1.529, first detected in South Africa, and the closure of certain borders, strongly shook the markets on Friday.

The flagship index of the Paris Stock Exchange, the CAC 40, at record levels for several weeks, posted a sharp drop.

At the close this Friday, last session of the week, it points to 6,739 points, down 4.75% compared to Thursday (7,075 points).

At the beginning of November, the CAC 40 had broken record after record, exceeding the bar - never reached so far - of 7,000 points, rising to 7,156 points on November 17. From the opening this Friday, the Paris Bourse had plunged into the red, pushed by the Asian stock markets (opened earlier), also in tumble. The CAC 40 at 6,739 points, the index returns to its level at the end of October (6,712 points on October 25).

“For two weeks, health concerns have returned to the market.

In the state of mind of the last few days, we felt a form of mistrust, without going as far as stress, with for example an increase in volatility, ”explains Alexandre Baradez, analyst at IG France.

The appearance announced Thursday of the variant B.1.1.529 and the numerous border closures were a real blow to the markets.

Unibail, Airbus and Air France in fall

The evolution of prices in Paris reflects the fears of investors as to the evolution of the health situation. The real estate giant, specialist in Unibail-Rodamco-Westfield shopping centers, posted the largest drop of the day on the CAC 40 (- 11.59%). The aircraft manufacturer Airbus, penalized by travel brakes, posted an almost similar drop (- 11.35%). Aeronautics expert Safran (- 10.21%) and construction and motorway specialist Vinci (- 8.43%) also posted significant falls. Conversely, the leader in scientific tests Eurofins Scientific posted the largest increase in the CAC 40 - and almost the only one - with a price increase of 7.84%.

Excluding CAC 40, Air France - KLM posted a drop in its share price of 9.67% on Friday alone.

An airline share now costs only 3.76 euros, when it flirted around 9 euros before the Covid-19 crisis.

The Compagnie des Alpes, at the helm of several ski resorts and amusement parks in France, which could be penalized by the resurgence of the epidemic, saw its price drop by more than 7.87%.

Source: leparis

All business articles on 2021-11-26

You may like

Life/Entertain 2021-12-30T01:57:47.105Z
Business 2021-11-30T18:36:04.845Z
Life/Entertain 2021-11-26T18:35:15.603Z

Trends 24h


© Communities 2019 - Privacy