(BFM Bourse) – The Paris Stock Exchange is advancing quietly, the optimism that has prevailed in recent days is now changing into a more cautious trend on the eve of several major meetings both on the economic front and on the business side. EDF jumped nearly 15% for its resumption of trading, and is approaching the price of 12 euros offered by the State as part of its project to renationalize the energy company.
After closing at a high since early June at 6,091.91 points on Monday evening, the Paris Stock Exchange is feverish on the eve of a crucial meeting of the European Central Bank and a period loaded with financial results. businesses. The CAC 40 is balanced at 6,091.83 points at midday, after losing up to 1% at the start of the session.
Caution remains in order ahead of the European Central Bank’s rate decision. The increase in consumer prices in the euro zone was confirmed at a record level of 8.6% over one year in June after 8.1% in May. This new surge in inflation justifies the Central Bank’s desire to raise its key rates by 0.25% for the first time since 2011, during its next monetary policy meeting on Thursday. But the current trajectory of consumer prices in the zone could lead the ECB to toughen its tone and to raise its key rates more significantly, by 0.5%, reports Reuters, citing sources familiar with the matter.
In this context, the euro continued to rise and gained 0.8% to 1.0234 dollars after making a brief incursion below parity for the first time in 20 years at the end of last week.
The results season is officially launched, Alstom has opened the ball for periodical publications. But the traditional microeconomic meeting of July was eclipsed by EDF, whose quotation resumed on Tuesday morning when the State has just specified the terms of the renationalization of the energy group. EDF is currently jumping 15%, the State which owns 84% of the group has announced its intention to buy back some 16% of the capital it does not hold in EDF.
Orpea gains 5% while ADP increases by 2%. The airport operator has raised its traffic forecast for 2022, after observing a significant increase in the number of its passengers in the first half of the year.
The big disappointment of the day comes from Alstom which dropped 5.85%, the railway equipment manufacturer certainly saw its sales increase in the first quarter of its staggered 2022/2023 financial year, but announced a deterioration in its order intake over the period. . The group also warned that inflation and shortages of electronic components would create uncertainties in its operational activities.
Oil prices paused Tuesday after their strong rebound the day before, WTI fell 0.5% to $102.06 while Brent lost 0.1% to $105.63. The day before, oil prices had appreciated by almost 5%, the visit of the American president to Saudi Arabia having not allowed any significant progress on a possible increase in the production of crude oil from the Gulf country.
Sabrina Sadgui – ©2022 BFM Bourse