(CercleFinance.com) – The Paris Stock Exchange ended the session with a limited decline of -0.09%, at 7,202 points, despite the good performance of URW (+3.3%), STMicro (+3.2%) or even Teleperformance (+2.1%).
The limited volumes (barely 2.6 billion euros traded during the session) testify to the cautious attitude adopted by investors. Moreover, they remained unresponsive to the adjustment of OECD forecasts for the world (forecasts raised from +2.6% to +2.7), Europe (from +0, 1% to +0.9%) or even the United States (from +0.1% to +1.6%).
On the other hand, China, which would go from 5.3 to 5.4%, could not reach its target of 5.5% and its outlook remains poor for 2024 with +5.1%.
“Over the next few weeks, the market should remain volatile awaiting clearer indications on future developments,” predicts Gilles Guibout, head of European equities at AXA IM.
Nevertheless, it seems for the moment very difficult to predict where the next growth factor will come from.
The markets also remained impassive after the publication of the American trade balance: the deficit widened by +23% in April, reaching 74.6 billion dollars, against 60.6 billion dollars in March (figure revised from $64.2 billion announced last month), according to the Commerce Department.
This increase in the deficit is the result of a 3.6% decline in exports of goods and services, to $249 billion, and a 1.5% increase in imports of goods & services, to $323.6 billion.
In France, the trade balance remained at -9.2 billion euros in April 2023, as a moving average over three months according to the General Directorate of Customs. Imports and exports both fell by 0.2 billion euros and reached 59.3 billion euros and 50.1 billion euros respectively.
On the bond, the rates are deteriorating more clearly this evening: +6Pts on the OAT at 2.983%, the Bunds show +7.5Pts at 2.438%, the Italian BTPs +6Pts at 4.25%.
In New York, T-Bonds also take +7Pts to 3.77% (the Bank of Canada raised its rates to everyone’s surprise) and across the Channel, another bad session with Gilts at +6.5Pts towards 4 ,2700%.
Gold fell back -0.7% towards $1948/ounce.
In the news of French stocks, TotalEnergies announces the doubling of the production of sustainable aviation fuels (SAF) at the Grandpuits site to bring production capacity to 285,000 tonnes per year, i.e. almost double the capacity announced in 2020 .
Airbus announces that in May 2023 it delivered 63 aircraft to 36 customers. Gross orders for the month of May 2023 stand at 17.
STMicroelectronics and Sanan Optoelectronics, a leader in the compound semiconductor market in China, today announced the signing of an agreement to establish a new joint venture to manufacture 200mm diameter silicon carbide components. in Chongqing, China.
STMicroelectronics and Sanan Optoelectronics, a leader in the compound semiconductor market in China, today announced the signing of an agreement to establish a new joint venture to manufacture 200mm diameter silicon carbide components. in Chongqing, China.
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