(CercleFinance.com) – The Paris Stock Exchange ended the session with an anecdotal decline of 0.07%, to 7132 points. After the good performances in January, investors are struggling to find elements allowing them to extend the momentum at the start of the year.
After having jumped by 11.7% since January 1, the Parisian market has in fact begun to suffer reductions in the stocks which had posted the best performances in January, i.e. technology, real estate and consumption.
The defensive sectors have managed to hold their own.
In Paris, the values of the distribution suffer in their entire releases (Carrefour -5%, Casino -3.6%).
In terms of figures, INSEE predicts +0.2% growth in French GDP in both the 1st and 2nd quarters and inflation should settle from +6% in February to 5% in June.
The United States’ trade deficit widened by more than +10% to $67.4 billion in December 2022, compared to that of $61 billion in November (which was revised from an initial estimate of 61. 5 billion), according to the Department of Commerce.
The markets are now awaiting the speech of Jerome Powell, the chairman of the Fed, who must speak shortly, during a meeting organized by the Economic Club of Washington.
Operators expect him to reaffirm his desire to continue tightening the institution’s monetary policy until the disinflation movement is fully completed.
On the bond front, the deterioration that began on Monday continues with +2 Pts to 2.753%, the Bunds posted +2.2 Pts to 2.306%, the same difference on Italian BTPs at 4.188%.
At nearly 3.65%, after reaching 3.66% at the start of the day, the yield on 10-year US Treasury bonds is heading back towards its highest since the start of the year.
This new bout of tension on the bond market is explained by the imminence of Jerome Powell’s speech.
On the foreign exchange market, the dollar continues its recovery to $1.0694 for one euro.
In corporate news, BNP Paribas (+2.6%) publishes net income group share of 10.2 billion euros for 2022, up 7.5% (+19% excluding exceptional items ), with gross operating income of 16.7 billion, up 10.5% (+9.3% at constant scope and exchange rates). A share buyback plan for 5 billion Euros will be launched.
Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), announces that the Amazonas Nexus satellite, for which it was prime contractor, was successfully launched aboard a Falcon 9 rocket from SpaceX from Cape Canaveral in Florida.
Finally, Alstom announces that it has won a new contract worth more than 230 million euros for the supply of 25 additional Coradia Nordic regional trains to Norske tog.
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