The resurgence of the coronavirus pandemic in the world should again weigh on the financial centers on Monday. Especially since the week promises to be rich in economic indicators, with in particular the PMI indices of activity in the private sector across the planet and the June employment report in the United States. If we believe future contracts, the Cac 40 should open down about 0.6%.
The coronavirus has killed more than 500,000 people worldwide, according to data compiled by Johns Hopkins University, and the number of people infected exceeds 10 million. The United States accounts for more than 20% of the total number of deaths, the southern and western states being the most affected. ” Rising Covid-19 Infection Rate Worsened Market Dynamics Despite Improving Global Economy, With Indicators Still Exceeding Expectations “Write JPMorgan analysts in a note. If they are in favor of taking advantage of any market downturn, they nevertheless recommend being very selective.
Macron receives Philippe before meeting Merkel
The risk of postponing or even abandoning measures to alleviate health constraints in the United States is weighing on oil prices. Prices have indeed shown last week their second consecutive weekly decline since April. This morning, a barrel of Brent from the North Sea fell 2.2% to 40.02 dollars,
On the Old Continent, Prime Minister Edouard Philippe, who won the town hall of Le Havre with a comfortable advance, will be received this morning by Emmanuel Macron. The question of keeping it in Matignon will most certainly be raised while the prospect of a cabinet reshuffle is widely raised by the press. The President will then travel to Meseburg, Germany, to meet Chancellor Angela Merkel to resume talks on the European Commission’s 750 billion-euro stimulus plan, scheduled for mid-July.
On the macroeconomic front, the market will monitor indices of the business climate and consumer confidence in the euro zone in May, as well as the first estimate of inflation for June in Germany. An American statistic is expected at 4 p.m .: last month’s home sales promises.
On the values side, Airbus expects to cut production by 40% over the next two years, aircraft manufacturer executive chairman Guillaume Faury said on Monday The world.
Among analyst notes, HSBC downgraded Capgemini and Elior from “purchase” to “” keep “.
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