A hesitant CAC 40 Whit Monday.

In the wake of Wall Street, the Paris Stock Exchange began the week hesitating, losing 0.24% after opening up. This session looks bleak Pentecost, no major indicator being expected in this holiday. But beware the volatility!

Green has been the color of the morning of Pentecost at the Paris Bourse, but also elsewhere in Europe on Monday. After registering, Friday, a new annual low, the CAC 40 has indeed started the session on a rise of 0.86% to 3.4060,49 points. Even wave of optimism measured in London where the Footsie had started the session up 0.50% to 5088.23 points. In Frankfurt, the Dax has started on a gain of 0.50% to 5858.45 points.
But after a morning on the green, the index has slightly tilted Paris in the red. Around noon, he lost 0.24% to 3422.51 points.
The red and green could well switch again, rising, struggling to take over. It should indeed, despite the quiet room, be wary throughout the day, promised a meeting with high volatility for essentially technical reasons, related mainly to the expiration of options.
The markets are based on the renewed confidence on Wall Street late last week and optimism that Asian markets outside Japan, began the week in green.
Friday already, after one week of highly volatile, the Paris Bourse had limited its losses, closing down a nominal 0.05%. In the U.S., banking stocks had finally prevailed over the fears of contagion from problems of European sovereign debt, allowing the Dow Jones finished the week on a net increase of 1.25% on Friday.
Fears about the risk of contagion and the health of the Euro are allayed by the adoption by Germany's massive plan to support the euro area and the agreement posted on Friday by leaders of the Eurozone.
The euro, however relapsing against the greenback Monday, traders fleeing from risky investments in a renewed concern about the economic health of the member countries of the euro area, driven in particular by the rescue of a regional savings bank by Bank of Spain.
At 9:30 GMT (11:30 in Paris), the euro was at 1.2414 dollars against 1.2563 dollars around 2100 GMT Friday.
On Whit Monday, no major macroeconomic index is expected in Europe. On the other side of the Atlantic, investors still keep a close eye on sales of existing housing (16 hours).
As for values, Areva lost 0.30% to 346 euros, after climbing in the morning. Echoes From Monday, thea patron of the group, Anne Lauvergeon, should keep the reins of the company. The paper refers to sources close to the Elysee, which ensure that Anne Lauvergeon will finish his term at the end of summer 2011.
The Board of Directors Theolia (-0.44% To 2.25 euros) appointed unanimously on a proposal by its chairman Eric Peugeot, Fady Khallouf, group general manager of renewable energy.
Technicolor (8.47% to 0.602 euros) announced Monday that its capital increase launched April 27, 2010 has been underwritten to the tune of 308 million new shares for a total gross proceeds of 203 million euros.
Note that the values of banks and insurance sector were well oriented earlier this week, before suffering slightly, some of the consequences of the volatility of the day: Credit Agricole yields -0.02% after gaining 2.07%, Axa, 0.73% after taking + 2% Societe Generale -0.07% This morning after climbing to + 1.75%, but BNP Paribas still clinching + 0.42% shortly after noon.