CAC40: loses contact with 5500 after publication of UMich

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Cac 40 purse(CercleFinance.com) – The Paris Stock Exchange slows down the pace after the publication of a last-but very bad US figure (index of confidence of the University of Michigan or 'UMich') and progresses more than 0 , 6% to 5.485 against nearly 1% two hours ago, to 5.505.

The CAC, however, will garner more + 2.7% this week … still driven by the hope of a de-escalation of trade tensions between the United States and China and statements by Christine Lagarde believing there still good margins of rate cuts (will it make you negative by the end of 2019?).

We typically attend one of these rallies at the end of the calendar month: the speakers obviously want to raise the clues and erase the bad memories of the beginning of August (it's done!).

'The general sentiment among the commentators last night was that of one more episode in the serial drama of commercial war, having resulted in a progression in the void, without real substance', tempers Kyle Rodda, market analyst at IG.

'Investors are still waiting for a real turning point, a significant change of direction in the dynamics of the conflict,' he adds.

As for figures, spending by US households rose 0.6% in July, according to the Commerce Department, exceeding what economists expected on average (+ 0.5% after + 0.3% in June).

On the other hand, household incomes in the United States increased by only 0.1% in July, following a gain of 0.5% in June, and while the consensus was for a 0.3% increase month of July.

On a yearly basis, the increase in the PCE price index ('basket of the housewife') accelerated by 0.1 point month-on-month to 1.4%, but maintained at 1.6% excluding the traditionally volatile elements of energy and food.
An hour later, the Chicago PMI (PMI in industry) jumped + 6Pts in August, from 44.4 to 50.4 instead of 47.5 anticipated.

Wall Street began the session on the right foot and the Nasdaq added + 0.6% (less than 0.2% now), the Dow Jones + 0.5%, but at 16H, the barometer 'U-Mich' feeling US consumers unscrewed 98.4 to 89.8 in August … the worst score since the summer of 2015!

Many figures also in Europe: consumer prices in France would increase + 1.1% in August 2019, as the previous month, according to the provisional estimate of INSEE. Over a month, they would recover significantly (+ 0.5% in August, after -0.2% in July).

In all markets (domestic and foreign), production prices of French industrial products rebounded in July 2019 (+ 0.5% after -0.6% in June), according to INSEE monthly data. .

In Germany, new negative cyclical signal with a decline of -2.2% in retail sales in July.

On the news of the values, according to Le Figaro, Canal +, Vivendi's pay-TV subsidiary, and the American video-on-demand giant Netflix would finalize a distribution agreement that could be signed in the coming weeks. are coming'.

The American group has already made agreements with Bouygues Telecom, Orange, SFR, and more recently Free, telephone operators whose 'box' includes access to television.

Stef jumped nearly 11%, following the publication by the logistician cold of a net income group share up 20.6% to 39.9 million euros for the first six months of the year. year.

Hailing a 'strong improvement in operational indicators in France and internationally', Oddo BFF notes its recommendation on the title of 'neutral' to 'purchase', with a target price unchanged at 94 euros.

Eramet is second on the podium with + 7.6%, Peugeot and Michelin dominate the CAC40 with nearly + 2.5%, Faurecia caracole with + 3.5%.

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