(CercleFinance.com) – The decline of the Paris stock market stopped at around 7110 points (-1.1%), a level at which the Parisian index has stagnated since the beginning of the afternoon.
This decline is linked both to questions about the evolution of the Fed’s monetary policy, which favor the rise in bond yields, but also to growing fears about the health of the Chinese economy.
Last disappointment to date, the Chinese real estate giant Evergrande, in poor financial health, would have requested yesterday its placement under bankruptcy procedure in the United States.
At the same time, the correction movement on long rates continues in the wake of the Fed’s minutes, which highlighted the central bank’s concerns about the persistence of inflation.
In this context, 10-year government bond rates are beginning to ease slightly but remain at very high levels, i.e. 4.23% for US Treasuries, 2.60% for the German bund and 3.15% for the French OAT.
Investors should favor cautious stances ahead of the Jackson Hole central bankers meeting next week.
In French securities news, Valeo has announced the signing of an agreement to sell all of the production assets of its transmission systems business in Russia to NPK Avtopribor, as part of its decision to withdraw from production in this country.
Spie announced Friday that it has acquired 75.1% of BridgingIT to accelerate its development in digital transformation services in Germany.
Finally, Visiomed Groupe announces the suspension of its listing following a press release from its subsidiary BewellConnect that Visiomed considers ‘false and defamatory’. ‘This suspension of quotation intervenes in order to allow us to communicate quickly’, explains Visiomed Group which denies ‘all the defamatory allegations which appear in the press release of Bewellthy’.
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