(CercleFinance.com) – The Paris Stock Exchange ended this session with an anecdotal decline of 0.13%, to 5833 points. Due to high volatility, the Parisian index was tossed around throughout the day, playing a roller coaster, opening at -0.9%, before turning green at noon, plunging again (-1% towards 4 p.m.) and, finally, to get closer to equilibrium at the very end of the session.
The decline in other European markets is more marked, Frankfurt loses 0.5%, London falls by 1%, the E-Stoxx50
Across the Atlantic, the trend is less clear, if the Nasdaq loses 0.6%, behind the S&P500 (-0.2%), the Dow Jones goes it alone and assumes 0.5%.
‘The macroeconomic outlook continues to hurt market sentiment’, analyzes the London investment bank Liberum.
Investors learned today of a publication from the New York Fed concerning its anticipated index of consumer spending: it came out sharply down from -1.8 to 6.00, which foreshadows a slowdown in growth. .
The most negative point for Wall Street nevertheless remains the new US restrictions on technology exports to China decreed last Friday.
‘This is another crack in an increasingly fractured relationship with the United States, which we believe will be a major headwind for China’s stock markets in the long run,’ an analyst firm warns. .
In this context, the Tokyo stock market fell by -2.64% this morning, Hong Kong by -2% and Seoul by -3%.
Rates continue to tighten everywhere but our OATs are under more pressure than other sovereign debts at 2.905% (the Bunds relax by -2 Pts towards 2.305%).
T-Bonds deteriorated by +3pts to 3.915% but the yield tested 4% before the Fed’s ‘stat’.
The IMF has just revised France’s growth forecast downwards to +0.7%, while the 2023 draft budget is built on an assumption of a +1.5% increase in GDP.
The IMF is also revising US growth from +2.3% to +1.6% in 2023, that of China to only +3.2% in 2022 and +4.4% in 2023 (watch out for the impact of new US sanctions!).
The IMF, on the other hand, is revising its global inflation estimates upwards to +8.8% in 2022 (compared to 4.7% in 2021) and one of its economists (Gourinchas) describes the outlook for the end of 2022 as very ‘painful’ , with growth reduced from +7% in 2021 to 3.2% in 2022.
The Euro reverses the steam and returns to the $0.9700 mark, towards $0.9725.
On the securities front, Sanofi reports positive last-minute results from a phase III trial seeking to evaluate its Dupixent in children aged one to 11 years with active eosinophilic esophagitis.
Vinci announces that it has participated in H2 Mobility’s latest financing round for 10 million euros alongside the Clean H2 Infra Fund, the world’s leading fund for low-carbon hydrogen, of which it is a key investor.
Getlink announces that Le Shuttle, its shuttle service for passenger vehicles, transported 203,491 vehicles under the Channel in September, an increase of 50% compared to the same period of the previous year.
Oddo maintains its ‘outperformance’ rating for Carrefour stock, with an unchanged target price of 20 euros. While the distributor’s quarterly results will be presented on October 26, Oddo is already anticipating a 16% increase in sales for the third quarter.
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
