(CercleFinance.com) – The Paris Stock Exchange is accelerating its technical rebound and the gain is growing at +1.5% towards 5,760Pts (i.e. -7% over the month of September and -0.5% over the past week.
Wall Street remains fairly cautious (limited rise as in Europe this morning), the Dow Jones posting +0.3%, the S&P500 +0.7% and the Nasdaq +0.8%.
In the Eurozone, the increase is there but it is hardly more significant with +0.8% on average.
The latest figures, particularly on the side of inflation (+8.9% in Italy, according to Istat this morning), invite investors to protect themselves against an economic environment that appears increasingly bleak.
Inflation in the euro zone, published at the end of the morning, set a new record of +10.00% over one year in September, against 9.1% in August.
France is a good student, but it is thanks to the energy tariff shield: consumer prices increased by 5.6% in September 2022 over one year, according to the provisional estimate carried out at the end of the month, after +5.9% the previous month.
Producer prices in French industry rose sharply again over one month (+2.3% after +2.2%) in August 2022 according to INSEE, whether the products are intended for the French market (+2.7 % after +1.9%) or external markets (+1.4% after +2.7%).
A little satisfaction all the same this Friday since in the United States: the confidence of American consumers improved well in September, but at a less marked pace than previously estimated, according to the final results of the monthly survey of the ‘University of Michigan.
Its confidence index finally stands at 58.6, a level well below the first estimate (59.5), but still higher than the level of 58.2 which was reached in August.
The component of the judgment of households surveyed on the current situation improved to 59.7, against 58.6 last month, but the component of their expectations remained stable at 58.
However, household inflation expectations one year ahead fell to 4.7% in September, their lowest level in a year.
Consumer spending rose more strongly than expected in August: it rose 0.4% last month, the Commerce Department announced on Friday, while the consensus was for an increase of 0.2%.
Household income rose 0.3% in August, in line with economists’ expectations, with the savings rate reaching 3.5%.
The consumer price index measured by expenditure (PCE), excluding food and energy prices (known as ‘core’), rose 0.6% in August after a stability in July, where analysts expected it up 0.4%.
In annual variation, the ‘core’ PCE index – closely followed by the Federal Reserve – posted an increase of 4.9% against +4.7% in July.
Yesterday’s upward revision to the PCE index, the Fed’s preferred measure of inflation, prompted market participants to favor the most protective options, in particular holding
The summit of energy ministers of the European Union, scheduled for today, should meanwhile continue to explore ways to restore some semblance of calm to the electricity and gas markets.
The meeting is expected to discuss the Commission’s plan to cap electricity prices and impose taxes on the ‘superprofits’ of oil groups.
In China, the purchasing managers’ index (PMI) for the manufacturing sector stood at 50.1 in September, against 49.4 in August, according to data released today by the National Bureau of Statistics (NBS). ).
A rather encouraging figure, since an index above 50 points indicates an expansion of industrial activity, while a figure below this threshold reflects a contraction.
On the bond markets, inflation at 10% in Europe is welcomed as a ‘fait accompli’: rates ease by -14Pts on our OATs to 2.78%, by -15Pts on Bunds to 2.06%, -17pts on Italian BTPs at 4.483%.
The Euro ricochets clearly below $0.985 and falls back -0.3% towards $0.9795.
On the securities side, Societe Generale announces the signing of an agreement to acquire a majority stake in Fintech PayXpert.
‘This acquisition would allow the Bank to complete its offer for merchants and e-merchants, with the ambition of being a benchmark player in the field of payment acceptance in Europe’ indicates the group.
Transplant Genomics, a subsidiary of Eurofins Scientific, announced the launch of ‘Trugraf Liver’, a new gene expression analysis tool to optimize immunosuppressive treatments in liver transplant patients.
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