Paris Stock Exchange in the red, cooled by trade tensions

The Paris Bourse was in the red Wednesday at midday (-1.24%), investors are cooled by the escalation of tensions between Washington and Beijing.

At 1:45 pm (11:45 GMT), the CAC 40 index lost 67.18 points to 5,367.18 points in a trading volume of 1.1 billion euros. The day before, it ended up 0.67%.

After having begun in decline, the Parisian odds widened its losses.

The New York Stock Exchange was also moving towards a downward opening.

The Dow Jones Industrial Average index futures contract, which shows its trend, lost 0.83%. The broad S & P 500 index was down 0.67%, while the Nasdaq index, dominated by technology, was down 0.79%.

"The threat of a new series of taxes (customs) has shaken the markets, just as confidence was recovering, "commented David Madden, an badyst at CMC Markets.

The United States fired a new salvo in the trade war with China by drawing up an additional list of imported Chinese products worth $ 200 billion a year, which they threaten to tax as early as September. [19659002] China has already warned that it will be forced to take retaliatory measures in case of new US taxes.

The US Administration "aggravates the dispute with Beijing, while sending to its other partners the message that the United States will not retreat in the face of trade disputes, "said Franklin Pichard, chief executive of Kiplink Finance.

In this context, US President Donald Trump will meet German Chancellor Angela Merkel on Wednesday on the sidelines. NATO summit where he denounced with extreme virulence the low military expenditure of Germany and its energy dependence on Russia.

"Donald Trump d should demand that allies pledge to increase defense spending by the middle of the year 2020, "Pichard said.

Market participants will also attend a conference of the Bank European Central Bank, with a speech by the president of the institution Mario Draghi

– Crossroads to the trouble –

The prices to the production on the other side are also in the program.

As regards values, Airbus dropped 0.50% to 102.82 euros. The American company JetBlue signed a memorandum of understanding for the purchase of 60 A220-300 aircraft with a list price of $ 5.37 billion. In addition, the Indian company Vistara ordered 13 A320neo but also six Boeing 787.

Carrefour was penalized (-4.87% to 13.59 euros) by a lowering of its target price by Barclays.

Mining stocks on the front lines of the trade dispute suffered, like ArcelorMittal (-3.39 to 24.80 euros) and Eramet (-5.45% to 109.20 euros).

even the automotive sector was in the red. Peugeot lost 1.32% to 20.94 euros, Renault 2.88% to 72.97 euros and Valeo 1.65% to 48.30 euros.

The oil sector retreated, in the wake of oil prices, like TechnipFMC (-2.95% to 26.33 euros), Total (-1.79% to 53.64 euros) and Vallourec (-2.42% to 5.31 euros).

Spie benefited (from 3.69% to 17.42 euros) from an increase in his recommendation by Kepler Cheuvreux.

Similarly, Lagardère benefited from (1.86% to 23.03 euros) of an increase of his by Goldman Sachs.