(CercleFinance.com) – After gaining 0.3% on Monday and losing it the next day, the Paris Stock Exchange is today up 2.01%, to 6,580 points, with all 40 CAC stocks up , in the wake of Wall Street which climbed 2 to 3 times stronger than expected thanks to a Dow Jones at +1.6%, an S&P500 at +1.5% and a Nasdaq at +1.5%.
However, it remains difficult to identify a catalyst to justify that the CAC40 rose from +1.1% to +2.1% in 90 minutes and recrossed 6,580 (ex-low of 17/11).
The energy sector is in demand this Wednesday, in the wake of crude oil prices which continue to rise (+2.4% to $81.6 in London and +2.5% to $76 for American light crude oil (‘WTI’ ).
The US figures do not shed any more light on the apparent euphoria on Wall Street since there is good and less good.
Good with US consumer confidence which rebounded strongly (to 108.3 this month, against 101.4 in November) to return to its levels of last April, shows the monthly survey of the Conference Board published Thursday.
The sub-index measuring consumers’ judgment of their current business conditions climbed to 147.2 from 138.3 last month, while that of their expectations improved to 82.4 from 76.7.
Much less good, too, with sales of old real estate which fell by -7.7% in the United States in November, the National Federation of Realtors (NAR) announced on Wednesday.
The weakness of the American real estate market is undeniable for the tenth consecutive month: on an annual basis, that is to say compared to November 2021, home resales are down 35.4%.
If the median price of goods continued to increase, rising by 3.5% to 370,700 dollars, Lawrence Yun, chief economist of the NAR, evokes a real estate market which remained “frozen” in November.
Crude inventories fell -5.9 million barrels according to data released by the U.S. Energy Information Agency (EIA), to 418.2 million barrels in the week to December 12 in the United States. UNITED STATES.
For their part, inventories of distilled products – including heating oil – fell slightly (-0.2 million barrels) while gasoline inventories increased (+2.5 million barrels), compared to the previous week.
Finally, the EIA indicates that the refineries operated at 90.9% of their operational capacity during this same week, with an average production of 9.6 million barrels/day.
The bond markets are unable to recover and the timid improvement of 3pts on our OATs and on the Bund fizzles out: return to the previous day’s scores at 2.835 and 2.30% respectively) and the US T-Bonds which are relaxed by -6 Pts to 3.625% almost back to equilibrium (-1.5 Pts to 3.67%).
With less than two weeks left before the end of the year, the financial markets could prove to be less and less volatile, with many fund managers and investors having already completed their annual accounts.
The main challenge of these last sessions of the 2022 financial year should therefore be to preserve the annual balance sheet of the CAC 40, which has only shown a decline of 8% since January 1, against -20% at the lowest of the year.
In the news of French companies, TotalEnergies and Eni (operator) announce a new gas discovery on block 6, off the coast of Cyprus. The Zeus-1 well encountered a gas column of 105 net meters in carbonate reservoirs, reinforcing the promise of this area and its development.
Technip Energies announces a contract representing a turnover of more than 250 million euros, for the supply of proprietary cracking furnaces for the 2,000 kta ethane cracker of the Golden Triangle Polymers project in Orange, on the Texas coast.
Interparfums announces the signature of a global and exclusive perfume license agreement with the Lacoste brand, for a period of 15 years from January 1, 2024, an agreement providing for an entry fee of 90 million euros and a first line of perfumes launched in 2024.
Vinci announces that Cobra IS has acquired Polo Carmópolis from the Brazilian group Petrobras, an operation signed in 2021, i.e. before the acquisition of Cobra IS by Vinci, and which will therefore be the subject of a strategic review in 2023.
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