(CercleFinance.com) – The Paris Stock Exchange ended the session with a modest decline of 0.24%, to 7,229 points, penalized by Renault (-3.5%), URW (-3%) and Stellantis (-1). .9%).
Many analysts highlight the ‘fragile’ configuration in which the CAC operates.
Investors are now opting for caution less than 48 hours from the ‘bridge’ including the celebration of the American Thanksgiving holiday, a traditionally calm period for the markets.
In the bond compartment, we note an easing of -5 points in long rates in Europe, towards 3.125% for OATs and 2.556% for Bunds.
The figures for sales of existing homes expected this afternoon in the United States were the main meeting for the financial markets.
After a modest rebound at the start of the year, the trend is once again negative in the American real estate market due to historically high borrowing rates and prices that remain inaccessible, which limits any possibility of recovery.
Existing home sales fell 4.1% to 3.79 million seasonally adjusted units last month, compared with economists’ expectations of around 3.90 million.
They fell in three of the four main regions of the country (Northeast, South and West), but remained unchanged in the Midwest, specifies the NAR.
Over one year, housing resales fell by 14.6%.
Due to a lack of supply, the median housing price remains artificially tense: it increased by 3.4% to reach $391,800, marking a fourth consecutive month of monthly growth.
In Europe, the ECB is warning of the risks of significant losses for banks in the commercial real estate segment (mainly offices).
In the United States, the markets’ concern is still about the Fed and the date on which it will start lowering its rates, but it seems that the American central bank itself does not know when this moment will come (Wall Street thinks it will be linked to the risk of rising unemployment).
The increasingly real threat of a recession is expected to weaken investor confidence and cause a downward revision of corporate profit forecasts, resulting in a decline in stocks.
‘Risk assessment still appears vulnerable in the short term, with the euro zone on the verge of recession and a US slowdown looming on the horizon as the tightening of monetary policy (finally) takes effect’, warns thus Generali Investment.
‘Despite the recent correction, shares do not sufficiently take into account a more difficult context,’ underlines the asset management branch of the Italian insurer.
Weighed down by the fall in the remuneration of government bonds, the dollar continues its decline against the euro, to $1.092/euro.
On the oil market, Brent prices fell by 0.3%, with a barrel at $81.8.
In the news of French companies, Air Liquide announced on Tuesday that it had signed new long-term contracts with the South African Sasol relating to renewable electricity capacities of 100 MW at the Secunda site.
Airbus announced on Tuesday that aircraft lessor SMBC Aviation Capital had ordered 60 additional A320neo family aircraft for an amount equivalent to $6.6 billion at list prices.
TotalEnergies announces the launch of a depot charging offer dedicated to electric heavy goods vehicles. This announcement was made during Solutrans, the trade show dedicated to road and urban transport.
Finally, Thales Alenia Space, a joint company between Thales (67%) and Leonardo (33%), signed a contract with the Turkish Space Technology Research Institute Tübitak Uzay, relating to the supply of the communications transponder which will equip AYAP- 1, the first Turkish lunar mission.
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