This Monday, July 4, the Paris Stock Exchange opens slightly lower in the absence of a driver for the beginning of the month, while the American Independence Day is extended for a holiday Monday.
In the absence of U.S. investors, whose July 4 national holiday is extended into a bank holiday, and without a catalyst to start the month, the Paris Bourse opened slightly lower, down 0.43%.
On Friday, the flagship index of the Paris Bourse closed its week with a decline of (0.1%) having lost 1.06% at the end of the week. At 9:50 am this Friday, the index recorded a drop of 28.26 points to 6,524.99 points.
The world’s leading luxury goods group LVMH announced that its champagne brand Moët Hennessy will resume deliveries “as soon as possible” to Russia, a country that has suspended sales of foreign champagne brands due to a change in the law prohibiting the use of the name champagne for foreign products, which will have to be replaced by “sparkling wine“, impacting stock market results.
French industry production is down 0.3% for the month of May 2021, compared to Insee data for April, and fails to return to a pre-crisis pace, below 5.6% in February 2020.
The New York Stock Exchange is at a record high this Friday following the release of employment results, reaffirming a strong U.S. economic recovery.
“If the optimism does not weaken on Wall Street, the other markets of the planet are hesitating, divided between the aspiration offered by the rise of the American indices and the doubts on the expansion of the Delta variant“, comments Tangi Le Liboux, strategist at Aurel BGC.
In the Middle Kingdom, June was the worst month in 14 and a sharp decline in activity growth was reported last month. Indeed, China’s factories were particularly affected by the resurgence of Covid-19 cases in Guangdong province, one of the country’s main exporting regions.
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