CAC40: falls below 7700Pts on geopolitical uncertainties

(CercleFinance.com) - After a banner week which saw it finish near 7792 points on Friday evening, the CAC40 began the session sharply lower, against a backdrop of geopolitical uncertainties rekindled by the death of Hezbollah's leader over the weekend.
The CAC40 is down 1.6% towards 7670Pts.

'In Europe today, the German and Italian consumer price indices will take on added importance given the weakness of French and Spanish prices published last Friday', also highlights Deutsche Bank.

The latter points out that inflation across the eurozone is expected this Tuesday. Traders will also be paying close attention this week to the PMI and ISM activity indices, as well as to the US employment report for September.

In stock news, Stellantis has reduced its 2024 targets to take account of its decision to amplify its actions to correct performance problems in North America, as well as the deteriorating dynamics of the global automotive sector.

Vivendi has entered into bilateral structured financing agreements to cover its potential bond debt repayment needs, should its demerger project be completed.

Atos announces that its shareholders and financial creditors, meeting in classes of affected parties, have broadly supported the proposed accelerated safeguard plan, with all three classes voting in favor by the required majority.

TotalEnergies reports that Danish Fields and Cottonwood, two giant solar power plants with battery storage located in southeast Texas, have been commissioned, representing new projects with a combined capacity of 1.2 GW.

Oddo BHF reaffirms its 'outperform' rating on STMicroelectronics, with a price target reduced from €40 to €36, in the wake of lower 2024-26 EPS estimates of around 7% for the Franco-Italian semiconductor manufacturer.

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