CAC40: 5th session of decline below 5750Pts

( – The Paris Stock Exchange posted a fifth consecutive session of decline on Wednesday in the wake of Wall Street and Asian markets, with concerns about the health of the economy and the evolution of monetary policy still favoring risk aversion. The CAC40 index fell 1.2% to 5682 points.

Concerns about the monetary tightening implemented by the major central banks, the rise in real rates and the slowdown in growth continue to fuel market nervousness.

After spending most of yesterday in positive territory, the CAC had finally folded in the last few minutes of trading, going from a 0.7% gain around 5:00 p.m. to a 0.3% decline. at the final bell, at 5753 points.

According to technical analysts, the Parisian index is evolving at a level far too close to its major support of 5750 points not to worry and conceal a continuation of the downward movement.

‘Graphically, the CAC40 index must quickly leave the area of ​​5750/5780 points to fuel and give hope for a first technical rebound’, believe the chartists of Kiplink.

‘The evolution on these current levels is far too fragile to be projected as a positive trend in the short term. For lack of anything better, safeguarding this annual low is already a first relief,’ they add.

After an encouraging start to the session, the New York Stock Exchange fell into line yesterday following comments from several members of the Fed, suggesting continued monetary tightening.

The Dow Jones lost 0.4%, the S&P 500 lost 0.2% and the Nasdaq Composite saved the day by climbing 0.2%.

In Tokyo, the Nikkei was down more than 2% late in the session as investors shun equities amid threats surrounding growth.

The Hang Seng index in Hong Kong yielded nearly 2.5%.

This new day promises to be relatively poor in statistics, but many economic indicators are expected by the end of the week, including crucial inflation figures in Europe and the United States.

Risk aversion continues to benefit the dollar, the index of which measures its variations against a basket of reference currencies, and sets annual records with a gain that now exceeds 15% this year.

The euro fell below 0.96 to 0.9560 against the greenback.

The 10-year Treasuries yield peaked at 0.96%, while the oil market retreated on concerns about weakening demand and the strength of the dollar.

The barrel of Brent lost 1.7% to 84.8 dollars and that of American light crude 1.6% to 77.2 dollars.

On the stock side, Saint-Gobain and the solar manufacturer Megasol, the European leader in building-integrated solar modules (BIPV), announce the conclusion of a strategic partnership.

As part of this partnership, Saint-Gobain has acquired a minority stake in Megasol’s activity dedicated to the development and production of BIPV modules at its Deitingen site in Switzerland.

Pernod Ricard announces the creation of a new business entity. From November 2, 2022, The Whiskey Exchange, Drinks & Co and Bodeboca will be united in this new business unit. This new entity will report to Alexandre Ricard and Nicolas Oudinot as Chief Executive Officer.

Nexity is today organizing an investor day to present its strategy as a global real estate operator over the period 2022-2026. The Group confirms its ‘guidance’ for the year 2022. It is aiming for a 14% market share in residential real estate in a market expected at 130,000 units, more than 4.6 billion euros in turnover and a current operating margin of around 8%.

Copyright © 2022 All rights reserved.

Did you like this article ? Share it with your friends with the buttons below.





Source link -85