paris (reuters) – the withdrawal began last week on the european action was extended on monday with a decline of more than 0.7%, the cac 40 in paris and the fifth consecutive decline in the stoxx 600 index of european wide, leading some analysts to make a correction after the beginning of a long sequence of the increase.
the cac 40 in paris lost 0.73% (39.09) 5.341,63 points, finishing in the decline for the sixth consecutive session after having already disposed of 2.49% last week, the dax in frankfurt, the transferor, on the other hand, 0.4%.
the euro stoxx 50 index gave up 0.54%, the ftseurofirst stoxx 600 and 300 0.47% and 0.66%, the latter related to fall to 2.66% in five sessions.
the london stock exchange lost 0.24%, more resilient through a decline in the pound sterling to promote high values oriented towards exports.
the strategists of kepler cheuvreux reviewed, their recommendation on the european action to “weigh”, believing that the current movement of profits was the first step towards a correction.
our conclusion is that the benefits from november marks the first stage of the transition to a peak of market to a market correction, the most dangerous is the beginning of next year, “wrote in a note to christopher potts, director of the economic research and policy of the intermediary.
other analysts are more measured, such as nicolas chéron, head of research for the on-line broker binck.fr.
“we should remember, however, that the cac 40 was 11%, almost a straight line between 29 august and 1 november last year, the decline in the building could only be legitimate to take long,” he says.
in our view, it is not about fear in the markets as risk indicators that are gold or v does not significantly offset the increase. the united states began breathing index at the end of last week, but there is no indication that they will fall dramatically, “he continues.
it is to adjust its objectives and
at the time of the closure, in europe, the gold is 0.2% to 1.279 dollars an ounce, and the volatility index for the s & p 500 has fallen slightly. the index of the new york stock exchange are at the same time without a clear trend.
the values in europe, it has declined by 10.39%, the largest decline in the stoxx 600. after adjusting its objectives 2018 to take account of certain negative developments, including decreased availability of its nuclear power stations, the group will not be able to guarantee that it will provide a cash flow good next year.
the largest decrease in the acc (2.54%) is in the intersection, the investors were concerned by a possible postponement of the presentation of the strategic plan of the distribution of the giant new ceo alexander bompard.
london, astrazeneca and unilever were 1.23% and 0.77%, respectively, driven both by the fall in the pound sterling.
the british currency is 0.6% against the dollar and the euro after an article in the sunday times in which 40 members of the conservative party would be willing to defy the authority of theresa may and to initiate a process that would take power from them.
if this is true, it will the signing of eight other members to initiate a vote within the party and the cause may be living in minority of the prime minister.
doubts about the tax reform are wall street
the dollar, to a little bit of ground against other major currencies (+ 10%), while the euro is tending to stabilize at around $1.
the oil market is still hesitant, torn between the signs of tension in the middle east and the announcement of an increase in the number of wells in the united states, which could pave the way for an increase in the pumping.
the wall street is penalized by investors’ concerns about the capacity of the government to increase the tax reform’s promise to the markets.
the lightening of the tax burden on enterprises, one of the promises of donald trump who helped to make the markets since his election, is still pending.
the house of representatives is scheduled to vote in the coming days, on a draft tax reform, but there is no indication that the republicans are willing to find a compromise with the senate to them to resolve their differences.
if the agenda for monday is very thin, the rest of the week looks more lively with the publication of the monthly consumer price in the united states, the euro area and the united kingdom, which may bring new elements in the discussion on the gradual tightening of monetary policy.
the market will also follow the debate on tuesday in frankfurt, germany, between the presidents of the european central bank (ecb), the federal reserve, the bank of england and the bank of japan on the sensitive subject of communication by central banks.
(edited by bertrand boucey)
copyright & copy;, thomson reuters
Translated by forexguides.info Team