(CercleFinance.com) – The Paris Stock Exchange ends the session with a gain of 0.43%, at 7,260 points, helped by CapGemini (+3%), Carrefour (+1.6%) and Pernod Ricard (+ 1.4%).
The minutes of the last monetary policy meeting of the American Federal Reserve, published yesterday evening, were received with relative indifference.
If central bank officials believe that the tightening of monetary conditions is starting to slow down economic activity, they also note that inflation remains ‘persistent’ in the United States.
Further rate increases therefore remain ‘on the table’ in the event that maintaining their current levels would not make it possible to get closer to the objective of inflation of around 2%.
The day was punctuated by numerous American economic publications: the Department of Labor revealed a drop of -24,000 (to 209,000) in new registrations for unemployment benefits in the United States during the week of November 13.
The four-week moving average – more representative of the underlying trend – stood at 220,000 last week, an anecdotal decline of 750 compared to the revised average of the previous week.
The big surprise of the day – in raw data – comes from the figure for orders for durable goods, which fell by 5.4% in October (record drop since the Covid period).
But excluding aeronautical orders, the figure is stable compared to September… so it’s a bit of a sham drop, hence the lack of reaction from Wall Street (+0.25%) and the markets bondholders.
The yield on Treasuries returned to equilibrium at around 4.418% after a brief incursion below 4.40%, a 2-month low.
American consumer confidence deteriorated in November, but less pronounced than expected, according to the final index from the University of Michigan published this Wednesday.
The ‘UMich’ index came out at 61.3 in the final version, against 63.8 in October, when it was 60.4 in the first estimate and economists expected it to be around 61.
However, this is its 4th consecutive month of decline.
The component measuring consumer sentiment on current conditions deteriorated to 68.3, compared to 70.6 last month, that of expectations fell by -2.5 points to 56.8 compared to 59.3 in October.
Inflation expectations have also started to rise again, with consumers estimating it at 4.5% this month, compared to +4.2% in October, a seven-month high.
On the oil market, prices are plummeting with a drop of 3.6% for Brent and a barrel at $79.4. The cause is the postponement of the OPEC+ meeting scheduled for this weekend in Vienna until Thursday 30/11.
Furthermore, data published by the US Energy Information Administration (EIA) show that crude oil inventories in the United States stood at 448.1 million barrels during the week of November 13, thus marking an increase of 8.7 million barrels compared to the previous week.
In French company news, Thales and Hassan Allam Construction announce the signing of a cooperation agreement for the development of digital platforms in Egypt and the Middle East region. The agreement was concluded as part of the Milipol 2023 exhibition.
Additionally, Thales has been appointed as the Australian Defense Force’s preferred partner for the Royal Australian Navy (RAN) maritime contract. The group wins an agreement for Regional Maintenance East (RMP-E) at the Garden Island Defense Precinct (GIDP) in Sydney, New South Wales.
Egide announced on Wednesday that it had secured financing for the continuation of the recovery plan for its American subsidiaries, which caused its stock to jump on the Paris Stock Exchange.
Finally, Alstom won a framework contract worth nearly 300 million euros for the development and deployment of the NExTEO signaling system on the RER B and RER D lines in Île-de-France.
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