(CercleFinance.com) – It’s a bit unexpected the day after a fall of -1.5% (on average) in the S&P500 and the Nasdaq: the Paris stock market gained 0.7% towards 7.265, notably driven by Stellantis ( +1.3%) and Hermes (+1%).
What is striking is that the rise of the week (+1.4%, with 4 sessions of rise out of 5) takes place against the backdrop of a real collapse in volumes on the eve of the weekend with less than 750MnsE traded in 7 hours (compared to 900 in previous sessions).
It becomes difficult to find a qualifier for such a desertion when the whole volume of a session in Paris is equivalent to 1 fifth of the daily trading on Apple stock alone.
The Euro-Stoxx50 is also well oriented with +0.65% but it is held back by the DAX which gains only 0.4%.
Perhaps it is a deliberate abstention of the operators who wait at 4:00 p.m. for the start of the intervention of the boss of the Fed, Jerome Powell, who must speak at the Jackson Hole symposium, an annual meeting of the world’s leading central bankers.
Market participants are hoping for signs that the Fed is ready to end its rate hike cycle, while fearing disappointment.
For economists at Deutsche Bank, Powell should indeed refrain from providing signals that are too obvious as to the evolution of monetary policy in the short term.
“The message of data dependency that characterized the last FOMC was sufficiently clear, and it is probably still too early to abandon this approach,” said the German bank.
Wall Street, which had fallen sharply the day before, resumed 0.4 to 0.5%, the bond market was amorphous with T-Bonds unchanged at 4.242%, a ‘2 years’ at 5.05% and a ’30 years’ at 4.30%.
The Dollar is still picking up a few fractions at 1.0810/E (i.e. +0.1%).
In the news of French companies, JCDecaux posted the largest rise in the SBF 120 on Friday on the Paris Stock Exchange (+3.6%), Deutsche Bank having gone to the purchase on the title, estimating that the current price offers a interesting opportunity.
Olympique Lyonnais (OL Groupe) informed Thursday evening of the transfer of Karl Toko-Ekambi to the Saudi Pro League club, Abha FC, for an amount of 1.5 million euros to which 500,000 euros in bonus could be added.
Nacon unveiled its highly anticipated new game ‘Robocop: Rogue City’ on Friday, hoping to boost sales through the holiday season.
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