(BFM Bourse) – The CAC 40 is close to equilibrium at mid-session, in a market that awaits indicators in the United States and then the publication after the European close of the minutes of the last meeting of the Federal Reserve American.
The Paris Stock Exchange lacks good news to really move forward. After losing 1.1% on Tuesday, the CAC 40 is struggling to rebound, taking 0.15% at mid-session on Wednesday, to 7278.53 points.
The market is suffering from a cocktail of negative elements, first and foremost concerns related to China following the publication of a series of disappointing economic indicators. In addition, investors continue to monitor the financial situation of the Chinese real estate developer Country Garden, which expressed this Wednesday “considerable uncertainties” for its reimbursements, after having suspended negotiations on several bonds on Monday.
In the United States, the banking sector also found itself under pressure on Tuesday evening after an analyst at Fitch told CNBC that the agency could be forced to downgrade the credit ratings of some 70 institutions. of its cover. JPMorgan ended down 2.6%, Bank of America lost 3.2%.
>> Access our exclusive graphic analyses, and enter into the confidence of the Trading Portfolio
Featured Maurel & Prom
In terms of daily statistics, the markets take note of the decline in inflation in the United Kingdom, which stood at 6.8% over one year in July against 7.9% in June. “The UK inflation data brought much needed good news to the economy and confirmed that tight monetary policy is now working as inflation is in free fall,” said Naeem Aslam. of Zaye Capital.
Investors also await the publication this afternoon of industrial production in the United States and new building permits, then this evening. after the close of European markets. “minutes”, i.e. the minutes of the last monetary policy meeting of the American Federal Reserve (Fed).
On the value side, the variations are small on the CAC 40 with a narrow gap between the biggest increase, Stellantis (+0.8%) and Eurofins Scientific (-1.2%), the biggest drop.
The oil company Maurel & Prom, for its part, posted a nice increase (+14.7%) after announcing the takeover of Assala, a group operating in Gabon and which will allow the French company to significantly increase the size of its production.
On other markets, the euro gained 0.1% against the dollar at 1.0919 dollars. Oil prices are amorphous. The North Sea Brent contract for October delivery fell 0.06% to $84.84 a barrel while the September WTI contract on Wall Street lost 0.09% to $80.92 a barrel.
Julien Marion – ©2023 BFM Bourse