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The Paris Bourse again weighed down by luxury (-0.36%)


The Paris Bourse ended down 0.36% on Tuesday despite the deceleration in inflation in the United States, the luxury sector having weighed on the rating, just like the day before.

The CAC 40 index lost 23.96 points to 6,652.97 points the day after a small rebound of 0.20%.

The rise in consumer prices slowed more sharply than expected in August in the United States: over one month, inflation decelerated to 0.3%, against 0.5% in July, less than 0.4% expected by analysts. And over one year, the price increase is 5.3%, against 5.4% in July.

“This was first seen as a very good figure since it removes the specter of a rapid intervention by the US Federal Reserve” to normalize its monetary policy, explains to AFP Lionel Melka, head of the team of management at Homa Capital.

Then “after reflection”, investors wondered if that did not mean that the economy is slowing “, which can weigh on the results of companies, he adds.

In addition, the Parisian coast suffered from the high exposure of luxury goods to China, where travel restrictions have been decided in the province of Fujian (south-eastern China), underlines the expert.

“We can see how China is the alpha and omega of these groups,” he says.

Luxury weighs down the index

The trio LVMH (-1.55% to 646.80 euros), Hermès (-0.74% to 1,269.50 euros) and Kering (-2.76% to 658.30 euros), which weighs for more than a quarter in the rating, plagued the session.

Believing in a note that the “common prosperity” desired by the Chinese president “reveals the vulnerability” of the luxury industry, AlphaValue lowered its recommendation on these titles and on the Italian Prada.

Aeronautics in the red

Hard hit like the entire aeronautics sector by the Covid-19 crisis, the equipment manufacturer Latécoère (-4.23% to 0.54 euro) remained in the red in the first half of 2021 but believes it has reached the low point during the period.

Safran (-3.39% to 103.66 euros) and Airbus (-2.02% to 112.76 euros) suffered together in a context marked by health risk.

New shareholder for TF1

TF1 shares rose 1.18% to 8.60 euros after the announcement of a 5% stake in the group by the Czech billionaire Daniel Kretinsky, owner of CMI France which publishes in particular “Elle”, ” Arts & decoration ”or“ Marianne ”.