Paris Stock Exchange Suspended on Brexit Negotiations (-0.09%)

The Paris Stock Exchange ended almost steady Wednesday (-0.09%), investors holding their breath waiting to be fixed on the outcome of intense negotiations underway for Brexit.

The CAC 40 index lost 5.15 points to 5.696.90 points, in an average trade volume of 3.3 billion euros. The previous day, it had risen by 1.04% to finish at a new high since December 2007.

The Parisian coast spent most of the session close to balance.

"It's Brexit Day and the market has been growing in expectation of the latest developments on this issue," commented Daniel Larrouturou, equity manager at Dôm Finance.

Marathon discussions were still ongoing Wednesday in Brussels to try to find a divorce agreement even if the prospects of seeing them succeed before the summit Thursday seemed to dwindle.

There remain "important problems to be solved," EU negotiator Michel Barnier warned Wednesday, but a few hours later, European Council President Donald Tusk said the basis for a Brexit deal was " ready "and could come to fruition in the next few hours.

"The Parisian coast is also rising to its annual highs yesterday, so it is also normal that there is a little delay at these levels," added Mr. Larrouturou.

This context has particularly benefited the most sensitive to the economic conditions, he continued, starting with the banks, which "have also benefited from the good results of US banks, including JPMorgan and Bank of America."

In this context marked by politics, the indicators of the day and especially "retail sales in the United States a little weak did not have a particular impact," noted Mr. Larrouturou.

Their fall in September not only surprised analysts, but also broke with six consecutive months of rising spending by US consumers.

The downward revision in September of inflation in the eurozone did not have more effect.

The Fed's Beige Book is also expected after the close of European markets.

– Banks wanted –

In terms of values, banks have been on the rise. Credit Agricole gained 1.97% to 11.64 euros, BNP Paribas 0.45% to 47.25 euros and Societe Generale 0.89% to 25.98 euros.

The car was also well oriented, with Renault taking 1.14% to 55.12 euros and Peugeot 1.15% to 23.75 euros.

Casino lost however 0.82% to 43.29 euros. The distribution group, engaged in a program of sale of non-strategic assets, has finalized the sale of the 31 stores to the Apollo Global Management fund.

Euronext CAC40