(BFM Bourse) – The Parisian index ended the session on Wednesday, November 1 with a clear increase, calmly awaiting the Fed’s announcement. The positive start from Wall Street has awakened the market a little.
The Paris Stock Exchange finally performed well on November 1, a public holiday and therefore synonymous with lower volumes on the Paris market. The CAC 40 ended up 0.68% at 6932.63 points.
The good performance of Wall Street, which moved in the green shortly after the European close, gave a little boost to a previously apathetic Parisian market in the afternoon.
Investors also took note of the day’s American indicators without batting an eyelid. Job creations in October stood at 113,000 units, according to the report from the ADP firm, compared to 150,000 expected by the consensus of economists compiled by Reuters. This report foreshadows the official figures which will be published Friday afternoon.
The ISM manufacturing index stood at 46.7 in October, down compared to the previous month (49), while economists expected stability in this indicator. Job openings in September increased slightly, to 9.55 million units compared to 9.497 million the previous month.
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A biotech gained almost 200% this Wednesday
But the big meeting of this day will take place at 7 p.m., with the expected decision from the Federal Reserve (Fed) on its key rates. A status quo is widely anticipated but investors will especially be watching for statements from Fed Chairman Jerome Powell to try to anticipate the next blow.
“With no new forecast expected today, much will depend on the tone of Fed members and Chairman Jerome Powell, and with bond yields remaining near their recent highs, I see little chance of another change in “orientation happens,” considers Oanda’s Craig Erlam.
On the value side, Danone gained 1.8% supported by Morgan Stanley which raised its advice on the value to “overweight”, judging that the group’s recovery is starting to bear fruit. Valeo for its part gained 3.05% while Goldman Sachs went from “sell” to “neutral” on the value.
The big variation of the day is however to be credited to the biotech Cellectis which took 191.8% (yes 191.8% you read correctly) after having entered into an agreement with the British AstraZeneca which includes an initial payment of 25 million of dollars, additional milestone payments that will be contingent on certain conditions, an initial equity investment of $80 million and a further potential capital investment of $140 million.
Note that in Copenhagen, the Danish renewable energy specialist Orsted plunged 25.7% after the cancellation of a huge offshore wind farm project in the United States and asset write-downs of 3.8 billion dinars. ‘euros.
On other markets, the euro fell 0.37% against the dollar to 1.0539 dollars. Oil prices are rising significantly. The January contract on North Sea Brent rose 1.6% to $86.40 while the December contract on WTI listed in New York advanced 1.6% to $82.32 per barrel.
Julien Marion – ©2023 BFM Bourse