(CercleFinance.com) – The Paris Stock Exchange has almost erased all its initial gains (the CAC gained 0.8% to 7,359 this morning) to return to equilibrium (in contact with 7,300 Pts).
The Euro-Stoxx50 has tipped into the red (-0.2%) and it will be difficult for it to come out of it by 5:35 p.m.
While Wall Street will remain closed today for ‘Labor Day’, investors seem to be getting back in touch with reality, ie the ‘wall of worries’ of the moment, such as the slowdown in growth, the persistence of inflation or changes in monetary policies.
In Paris, the crossing of the resistance of 7360 points appears to be the main issue in the short term. The passage of this technical pivot could open the way to a return to its annual highs of April.
“The deceleration in the US labor market, however, could be a key catalyst for higher equities and lower bond yields by the end of the year,” said Mona Mahajan, strategist at Edward Jones.
“It would indeed mean that the Fed could finally stand aside by pausing on rates”, continues the analyst.
For the time being, investors should lack direction, especially since the week will be light on indicators… and this Monday constitutes
The figures for industrial orders in the United States tomorrow, then the ISM for services on Wednesday, will however be followed by investors in search of concrete elements on the health of the economy.
The mid-week publication of industrial orders and then industrial production in Germany should confirm that Europe’s largest economy, the continent’s traditional engine, is showing worrying signs of weakness.
Meanwhile, bond markets continue to deteriorate in Europe with +3 basis points on OATs and Bunds (3.103% and 2.574% respectively).
In the news of French companies, Technip Energies announces the launch, on the occasion of the Gastech 2023 conference to be held from September 5 to 8 in Singapore, of SnapLNG by T.EN, a modular, pre-studied and standardized solution for the production of low-carbon LNG (liquefied natural gas).
Unibail-Rodamco-Westfield (URW) announces that it has sold Westfield Valencia Town Center, a regional shopping center located in Santa Clarita, California, to Centennial Real Estate for a total value of $199 million (100%, URW share of 50 %).
Finally, Stmicroelectronics announced on Monday a collaboration with Sindcon, a Singaporean specialist in the Internet of Things (IoT), in the field of smart meters.
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