3 mins lecture

Paris Stock Exchange: Brexit negotiations preoccupying the Paris Stock Exchange

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The Paris Stock Exchange finished down 0.64% on Monday, concerned about the stalled negotiations on Brexit, as the deadline for an agreement between the United Kingdom and the European Union approaches.

 

The CAC 40 index fell 35.77 points to 5,573.38 points. By Friday, it had risen 0.62%, ending a fifth consecutive week of gains.

 

The Paris stock market spent the entire session in the red, close to its closing level.

 

“Discussions about Brexit are guiding the markets,” notes Valentin Bulle, manager at Dôm Finance.

 

Despite numerous meetings, the United Kingdom and the European Union are unable to agree on their future relations, particularly commercial relations.

 

British Prime Minister Boris Johnson and the President of the European Commission Ursula von der Leyen were talking on the phone at 17:00 (16:00 GMT) on Monday to take stock of the situation.

 

Earlier in the day, the British government had ruled out resuming negotiations next year if it failed to find a compromise by the end of the year.

 

“Investors are in the dark about this, and that therefore encourages profit-taking,” analyses Mr. Bulle.

 

The nervousness was beyond the equity markets, as the pound sterling gave up a lot of ground against the world’s major currencies on Monday.

 

“In the longer term, investors are also waiting for the stimulus package in the United States. For the time being, the prospect of its implementation prevents the big market declines, which are still at a high level,” the manager continued.

 

In addition, the listing has not been supported by news about vaccines against Covid-19, which had become a habit every Monday for the past month.

 

Net decline for banks

 

Banking stocks, which have risen sharply since the Covid-19 vaccine news, have been the main losers from Brexit-related profit-taking, according to Mr Bulle.

 

The Société Générale Group, which will also merge its Société Générale and Crédit du Nord banking networks, fell by 2.73 percent to 17.79 euros. BNP Paribas lost 2.70% to 44.51 euros and Crédit Agricole 2.90% to 10.73 euros.

 

Technology resists

 

In this uncertain context, investors have tended to turn to defensive stocks or stocks that are less subject to economic uncertainties. This is the case for technology with STMicroelectronics, which gained 1.03% to €34.41, luxury goods with Hermès, which rose 0.65% to €831.80, and Air Liquide, which rose 1.19% to €136.20.

 

Read also > STOCK MARKET : SHARES TO BE PURCHASED TO ANTICIPATE THE ARRIVAL OF A VACCINE

 

Featured Photo : © Presse[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]

The Paris Stock Exchange finished down 0.64% on Monday, concerned about the stalled negotiations on Brexit, as the deadline for an agreement between the United Kingdom and the European Union approaches.

 

The CAC 40 index fell 35.77 points to 5,573.38 points. By Friday, it had risen 0.62%, ending a fifth consecutive week of gains.

 

The Paris stock market spent the entire session in the red, close to its closing level.

 

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The Paris Stock Exchange finished down 0.64% on Monday, concerned about the stalled negotiations on Brexit, as the deadline for an agreement between the United Kingdom and the European Union approaches.

 

The CAC 40 index fell 35.77 points to 5,573.38 points. By Friday, it had risen 0.62%, ending a fifth consecutive week of gains.

 

The Paris stock market spent the entire session in the red, close to its closing level.

 

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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