Technologies and automobiles weighing on the Paris Bourse

The Paris Stock Exchange closed down Tuesday for the fifth consecutive session, weighed down by the automotive sector and technology and by the feeling that the banks are far from having finished with the crisis markets credit.

The CAC 40 index, which had opened up, returned to the starting point for the small rebound started on February 12 to close at 4675.91 points, down 1.41%. The decline of nearly 6% since February 26.

As in recent sessions, the fall was made in volumes means, 7.15 billion euros for the entire market, with 5.84 billion on the only values of ACC 40.

All places in Europe have closed in sharp decline, Frankfurt signing the worst performance (-2.17%) under pressure from Bayer, which has suffered a legal setback in the United States for patent protection of its flagship contraceptives. London has limited the damage with a decline of 0.87%.

As for the pan-European index, the EuroStoxx 50 lost 1.78% and the EuroFirst 300 1.45%. The weakness of American markets in the morning helped to accentuate the decline in places of the Old Continent: Europe at the close, the Dow Jones ceded 1.13% and the Nasdaq composite 1.09%.

All sector indices ended in the red in Europe, with the exception of that of commodities (+0.3%), particularly through the bond of 6.83% of Eramet.

But the technology and the automobile have lost respectively 3.74% and 3.43%.

INTEL ON TECHS PESE

The former have accused the impact of the downward revision by the microprocessor giant Intel, its gross margin for the first quarter. Nokia (-5.15%) was the main victim of this warning in Europe, while in Paris, Alcatel and Lucent STMicro lost 4.42% and 4.38%.

The automobile was a victim of cautious statements on the evolution of the European market made by the industry at the opening of the Geneva Motor Show, including PSA Peugeot Citroen. The latter has dropped 5.88%, 5.10% and RENAULT MICHELIN 5.25%.

The financial finally have suffered from fears of additional significant impairments at Citigroup, fed by an analyst note, and about a leader of fund sovereign Dubai believing that the giant American bank, which lifted 30 billion for dollars from a very large majority of investors in the Gulf since last November, would still need capital.

CREDIT AGRICOLE SA, which publishes its annual accounts Wednesday, fell by 3.37% and SOCIETE GENERALE of 3.12%. BNP Paribas has limited the case with a drop of 0.46%.

Against the trend, SCHNEIDER ELECTRIC has gained 1.52%, operating a rebound after a drop of almost 9% over the previous four sessions.

The dollar has fallen further against the euro at 1.5206, but the American light crude, which was dealt a time above 103 dollars a barrel, was relaxed late in the day in Europe to fall just above of $ 100.