(CercleFinance.com) – The Paris stock exchange faces its first air hole of the year: the CAC40 unscrews 1.72%, to 7,249 points, giving up more than a hundred points in the space of 24h. And the Parisian index is no exception: London gives up 0.9%, Frankfurt drops 1.3%, the Euro Stoxx50 is down 1.5% …
Across the Atlantic, the scenario is the same: the almost continuous rise in indices that began in mid-December also ended abruptly on Wednesday evening. At the origin of this general decline? The release of the Fed’s ‘minutes’ which had the effect of an icy shower and surprised the market.
The leaders of the American central bank are indeed considering a rise in rates at a faster pace than initially expected … and not to ‘neutralize’ the balance sheet (the amount of its assets) by not buying new lines at height of those expiring (contrary to the strategy planned by the ECB).
After falling 3.35% yesterday, the Nasdaq is now resuming a few timid colors (+ 0.3%) while the Dow Jones for its part has given up 0.3%. Between the two, the S&P 500 painfully grabs 0.1%.
It must be said that in addition to the minutes of the Fed, investor morale also deteriorated a little more this morning with the declaration of a state of emergency in Kazakhstan, which obtained help from Moscow in order to in the face of the demonstrations which have shaken the country for several days.
As the country is a major oil producer, the market reacted strongly, with ‘WTI’ up 2% and tackling the strong resistance of $ 80.
In this context, all Asian stock markets ended in negative territory Thursday, with a decline of around 2.8% in Tokyo.
In terms of figures, the growth of the activity of the service sector in the United States was disappointing: the ISM index of ‘services’ stood at 62.0 against 69.1 (far from the expected 67). The resurgence of the COVID-19 epidemic would be largely responsible: the sub-index of ‘new orders’ fell even more sharply, from 69.7 to 61.5 in December, to the lowest for ten months.
The employment sub-index fell to 54.9 from 56.5 in December.
The US trade deficit contracted slightly to 80.1 from 81.5 in November.
The number of jobless claims in the United States rebounded from +9,000 from 24 to 31/12, to 207,000, beating a median forecast of 195,000.
In the United Kingdom, the CIPS / IHS Markit composite PMI index of overall activity from 57.6 to 53.6 in December 2021 (compared to 53.2 in initial estimate).
It is thus its lowest level since March 2021, and singularly, the growth of the activity of the services did not surpass that of the manufacturing industry, the two sectors having both posted indices of 53.6 .
It remains to discover the ISM of services in the middle of the afternoon.
In the news of French companies, Société Générale and ALD announce the signing of two separate memoranda of understanding providing for the acquisition by ALD of 100% of LeasePlan’s capital from a consortium led by TDR Capital, with a view to creating a a leading player in mobility solutions.
Dassault Aviation indicates having delivered, during the past year, 30 Falcon business jets (for a forecast of 25 deliveries and against 34 in 2020), as well as 25 Rafale fighter jets for export (in line with its forecast, compared to 13 in 2020).
Finally, Nanobiotix soared by 18% when the first patient was recruited for NANORAY-312, a pivotal phase III study evaluating NBTXR3 activated by radiotherapy in high-risk elderly patients with locally advanced squamous cell carcinoma of the head and neck.
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