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CAC 40: drop below 5400 points in the wake of luxury values

CAC 40: drop below 5400 points in the wake of luxury values

On Friday, January 29th, the CAC 40 was not in the spotlight: The CAC 40 closed the first month of the year with a drop of 2.02% to 5,399.21 points. On the January scale, the index showed a total loss of 2.74%.

 

The CAC 40 has now been down for one month and has barely passed the 5600-point mark. The luxury goods sector, which was originally a buoyant sector of the financial markets, is showing considerable instability, particularly with the daily downturns in Kering.

 

However, this month it is not only Gucci’s parent company that is at the bottom.

 

The world leader in the luxury goods sector, LVMH, ended the week with a loss of 3.62%, Hermès is experiencing the same suffering with a decline of 2.21% and Kering is down 2.57%.

 

In addition, even though LVMH unveiled a clearly positive 2020 balance sheet, technical analyses predict a decline in its shares in the near future. Analysts advise waiting for the decline before investing in the stock.

 

The trend is global and this time is no exception: Frankfurt closed Friday with a decline of 2.08% and London dropped 1.82%, their worst weekly performance since the US presidential election in early November, with declines of 3.18% and 4.30% respectively. In Paris, the CAC40 had then dropped 2.88%.

 

See Also


It is not more glorious on the New York Stock Exchange, the Dow Jones index on Wall Street lost 2.03% and fell below 30,000 points for the first time since early December. The Nasdaq lost 2.00% and the S&P 500 lost 1.93%.

 

The slower-than-expected contraction of 1.3% of France’s GDP in the fourth quarter had little positive effect, as the health crisis largely dominated investors’ minds. In addition, tensions persist between the EU and AstraZeneca’s vaccine and fears of a liquidity crisis in China are still present.

 

Lire aussi > STOCK MARKET: A DECLINE IN LVMH SHARES IS EXPECTED

 

Photo à la Une : © Presse

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