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The Paris Bourse ended sharply Monday (+ 0.97%), starting the week off right, thanks to the constructive remarks of the Italian executive on its deficit in its draft budget 2019.
The CAC 40 index gained 48.03 points to 4.994.98 points, in an average trade volume of 3.6 billion euros. Friday, he ended up slightly up 0.18%.
The Paris rating opened up and accelerated the pace during the session, pbading even briefly during the session above 5,000 points. "The market is focused on the first positive news on Italy for a long time," summarized AFP Alexandre Baradez, an badyst at IG France.
"If, during the negotiations (with Brussels), the deficit should decrease a little, for us, it is not important," said Monday Luigi Di Maio, the leader of the 5-star movement (M5S, antisystem), one of the two parties of the ruling coalition in Rome with the League (far right).
A highly anticipated G20
The talks seemed so far deadlocked, the Italian executive having camped on its positions since the rejection on October 23 by the European Commission of its draft budget, which officially provides a deficit at 2.4% of GDP. "The rebound in oil also helps European indices" which are "not otherwise penalized by a strong rebound of the single currency," added Mr. Baradez.
"But it's probably more of a big breath than a change of trend at this stage or the beginning of a rising trend as often known markets end of the year," said the expert.
According to him, "investors are also waiting for the meeting, on the sidelines of the G20 summit, between US Presidents Donald Trump and Chinese Xi Jinping" in Buenos Aires, with the hope that it will lead to a truce in the trade war between the two countries. The G20 will be held in Argentina on November 30 and December 1.
In addition, market participants were rebadured by the agreement on Brexit sealed Sunday between the European Union and the United Kingdom, after months of negotiations, even if they are waiting for the green light of Parliament British.
Rebound of oil titles
In terms of indicators, investors had little data to put in their mouths, apart from the Ifo barometer, according to which the morale of German entrepreneurs fell again in November.
In terms of values, Saint Gobain gained 4.06% to 33.06 euros, supported by the announcement of the launch of two new divestment processes, including that of its building distribution activities in Germany. The group also announced a reorganization of its internal structure, with a new number two, Benoît Bazin.
The oil sector has benefited greatly from the recovery in oil prices. Total took 1.50% to 48.30 euros and TechnipFMC 5.24% to 20.89 euros. TechnipFMC has also been supported by an increase in its recommendation to "maintain" against "reduce" previously by HSBC.
Renault took 2.73% to 62.10 euros after having experienced a difficult week. The automaker has launched an audit to verify the compensation of its CEO Carlos Ghosn, still in custody in Japan and categorically denies any wrongdoing within the Nissan group.
The banking sector has benefited from the good news from Italy, just like Agricultural credit (+ 3.71% to 11.12 euros), BNP Paribas (+ 2.21% to 45.34 euros) and Societe Generale (+ 2.15% to 33.24 euros).
Vallourec, who plunged last week, regained ground (+ 14.54% to 1.95 euro).
Eurofins was supported (+ 7.91% to 379.20 euros) by raising its recommendation to "buy" against "maintain" by Berenberg. The group also set a target Monday to keep pace with organic growth of more than 5% beyond 2020.
The Income, with AFP
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