Cac 40: Markets tighten before the Fed minutes, the CAC 40 remains feverish

(BFM Bourse) – The CAC 40 ended down sharply by 0.8%. Risk aversion returned to the markets after lackluster activity indicators in China and before the release of the Fed’s minutes in the evening.

It is a more frank trend which took shape this Wednesday at the Paris Stock Exchange, after two sluggish sessions. The CAC 40 closed down 0.8% at 7310.81 points on Wednesday evening, after briefly moving below 7300 points in the afternoon. The Parisian star index thus has a third session in the red.

Caution remains in order before the publication in the evening of the minutes of the last monetary policy meeting of the American Federal Reserve. Operators hope to decipher the slightest clue on the next evolution of interest rates. Its chairman Jerome Powell recently confirmed that he was not ruling out two more rate hikes this year.

“If the scenario of a new rate hike by the Fed at the end of July still holds true (more than 85% probability), with a voluntary Jerome Powell during his last declarations, [Thomas Giudici, chez Auris Gestion] consider[e] nevertheless that a new break is still likely”

The trend was already weighed down by unattractive macroeconomic indicators. The activity of services in the euro zone deteriorated to 49.9 in June against 52.8 in May, according to the second estimate of the PMI indices published on Wednesday. The first estimate had reported a figure of 50.3. Remember that a level below 50 marks a contraction in activity. In China, the services PMI fell to 53.9 in June from 57.1 in May.

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Casino (again) on the carpet

In terms of values, the Casino share continued its stock market plunge, and dropped almost 33% while the group delivered the content of the two capital contribution offers, that led by Daniel Kretinsky on the one hand and that of the Niel-Pigasse-Zouari trio, on the other hand. In both cases, the indications given by the company suggest a dilution of more than 99% for the shareholders.

Boiron jumped 27% to ultimately exceed by 10 cents the price of the simplified takeover bid by the Boiron family, which intends to withdraw the group from the stock market. This offer includes a fairly homeopathic bonus for the shareholders, of 36% according to the calculations of the company which is based on the detachment of an exceptional dividend. But by restating this aspect and comparing the closing price on Monday (39.5 euros) with the value of 50 euros, this premium drops to 27%.

OSE Immuno ends up 7.1% after obtaining a new patent in the United States strengthening the protection of Tedopi, its potential therapeutic vaccine against non-small cell lung cancer.

The euro lost 0.15% against the dollar at 1.0867 dollar. Oil prices are on the rise. The September contract on North Sea Brent crude rose 0.3% to $76.51 a barrel, while the August contract on New York-listed WTI jumped 2.9% to $71.80 a barrel. barrel.

Sabrina Sadgui – ©2023 BFM Bourse

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