(CercleFinance.com) – The Paris stock market seems completely frozen with a CAC40 at -0.4% since 1:30 p.m., in skeletal volumes of less than 1.4 billion euros traded in 8 hours.
Caution – and even the total lack of initiative – dominates at the start of a week that promises to be busy in terms of financial news.
The Euro-Stoxx50 is also opting for a cautious consolidation of around -0.5% towards 3.920.
On Wall Street, the Dow Jones grabs 0.5% while the Nasdaq has been hesitating between green and red since 3:45 p.m.
In the United States, the Fed has started to discuss the opportunity to slow the pace of rate hikes, but the strength of the latest economic indicators has called into question the appropriateness of a ‘pause’.
As far as the ECB is concerned, the debate does not yet seem completely settled (between +0.5% as Italy wishes and +0.75% as Germany wishes), even if inflation in the euro zone set new records in October.
While a slower rate-tightening pace is a possibility after the meeting scheduled for this week, several members of the Governing Council are still advocating for vigorous rate hikes of 75 basis points.
Investors will also remain attentive to the burst of indicators expected in the coming days, particularly in the United States where the latest inflation figures will appear tomorrow.
In Europe, investors will follow the latest PMI surveys at the end of the week, which will show whether companies on the Old Continent continue to benefit from the decline in energy prices and the easing of supply tensions.
While macroeconomic data remains firmly tilted towards recession, the recent easing of anti-Covid measures in China could perhaps provide them with a small ray of hope.
On the interest rate front, an easing is taking place, both on T-Bonds (-4Pts to 3.5260%) and on our OATs (-1.5Pt 2.373%) and Bunds (same difference at 1.910%) .
The only hotbed of volatility concerns oil with a fairly clear trend reversal from $75.6 (-1.3%) to $78.5 (+2%) as a cold spell spreads on both sides. else from the Atlantic.
In company news, TotalEnergies (+0.7%) indicates that it is preparing the exploration of block 9 in Lebanon, aiming to carry out the drilling as soon as possible in 2023. To date, in addition to the director of operations, more than 10 people are involved in the preparation of the well.
Saint-Gobain announces that it has signed, following a competitive sale process, an agreement to sell all of its trading brands in the United Kingdom – including the timber and building materials distributor Jewson – to the Stark group.
Air Liquide (-0.5%) announced on Monday that it had obtained funding from the European Union for the construction of an infrastructure to transport, liquefy and load CO2 on ships for storage. permanent at sea.
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