(CercleFinance.com) – The Paris Stock Exchange ended the session with an anecdotal decline of 0.12%, to 7213 points, thus signing a 4th session of virtual stagnation. The weekly decline nevertheless reached 0.75%.
Caution is indeed required among investors, especially as a tightening of the monetary policies of the major central banks is still possible in the short term.
Yesterday’s announcement of a ‘technical’ recession in the euro zone, marked by two consecutive quarters of negative growth, also heightened concerns about the health of the global economy.
In this context, trading volumes appear particularly reduced since Monday, a few days before the Fed and ECB meetings scheduled for next week.
Deprived of catalysts, the Parisian market seems – like the other world places – to seek a direction since the end of April.
In the absence of economic indicators, today’s session remains particularly calm, on both sides of the Atlantic.
The easing of tensions on the interest rate market could nevertheless encourage a small rise in bonds.
Sovereign yields eased at the margins: the yield on the 10-year German Bund, the benchmark rate for the euro zone, erased 2.2 Pts and returned to camp in the 2.40% zone, our OATs erased 6 Pts at 2.917%.
On the other hand, the 10-year US loan deteriorated by 4pts to 3.751%.
The dollar rose slightly against the euro, which lost 0.25% towards $1.0755/euro.
Oil is also expected to end the week on a negative note despite the announcement on Sunday of further OPEC production cuts.
The barrel of American light crude oil (WTI) trades at 71.35 dollars, Brent from the North Sea rises to 76$ (+0.6%).
The big winner of the week so far is gold – with a 1% rise towards $1,960/ounce the yellow metal continues to benefit from robust demand, supported in particular by the risks weighing on the American economy.
In the news of French companies, Wallix, a cybersecurity software publisher, announced on Friday that it had completed a fundraising of 10.5 million euros, a dilutive operation which caused its share price to fall sharply.
Thales announces that it has carried out this Wednesday, June 7, a bond issue at a fixed rate of 500 million euros at 6 years with a coupon of 3.625%.
Finally, EDF announces the success of its hybrid bond issue for a nominal amount of US$1.5 billion and the continuation of the contractual buyback offer announced on June 6, 2023.
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