The Paris Bourse fell 0.68% on Tuesday in a relatively quiet session, as investors remained worried about the economic consequences of the coronavirus across the world.
The CAC 40 index fell 33.88 points to finish at 4,938.06 points.
“The meeting remained fairly sluggish against a background of fears related to the coronavirus and its consequences, such as border closures which could continue,” said Mikaël Jacoby, head of continental Europe brokerage for Oddo Securities, interviewed by AFP.
The drop of the day “remains very measured in relation to the risk that we run” across the world, added the expert, noting also “very anecdotal” trade volumes, a common situation in the middle of the month August.
For six months and the outbreak of the crisis, every day has brought its share of bad news on the front of the pandemic and its health and economic consequences.
On Tuesday, Boeing offered a second voluntary departure plan, the Marks and Spencer chain of stores announced 7,000 job cuts, and Chile saw its GDP plunge 14.1% in the second quarter. At the same time, the wearing of the mask will be “systematized” in French companies, indicated the Minister of Labor Élisabeth Borne.
Since the end of December, the pandemic has killed at least 770,429 people around the world, according to a report established by AFP from official sources.
The news did not prevent the New York Stock Exchange from setting new records in session Tuesday, helped by strong corporate results and a sharp rise in housing starts in the United States.
Today’s trading session was also marked by a sharp decline in the dollar, to its lowest for more than two years, against the euro.
Among the values of the day in Paris, Accor (-1.20% to 23.03 euros) saw the rating of its debt downgraded by a notch by the rating agency S&P, going into the “speculative” category.
The soap opera around Lagardère continued, causing the group to lose 3.39% to 15.10 euros. Its two main shareholders Amber and Vivendi deplored on Tuesday the anticipated renewal of Arnaud Lagardère as manager of the group, seeing it as a new example of dysfunction in its governance.
Unibail-Rodamco-Westfield continued its plunge, losing 5.02% to 38.76 euros.
Euronext CAC40
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