(CercleFinance.com) – Serious reversal of the situation on the Paris Stock Exchange: sharply up this morning (+1.3% to 7.343 thanks to the easing of post-PMI rates and the Nvidia effect), the CAC reversed the vapor and lost more than 130Pts (not far from -2%) on its ‘highs of the day’, yielding 0.45% to 7,210Pts
Wall Street does not help: the S&P500 yields -0.5% and the Nasdaq sinks into the red by 0.8%: the Nvidia title which was close to $500 (new record) only gains 1% around 480 $.
The Euro-Stoxx is now yielding -0.5% in the wake of the DAX with -0.6%.
The bond markets are stabilizing after their sharp easing the day before (-15Pts): US T-Bonds are deteriorating by +1.5Pts towards 4.210% (the ‘2 years’ shows 5.000%) while the Fed is preparing to give up on its rate hikes (and perhaps lower them in 2024).
The bond market is now awaiting Jerome Powell’s speech in Jackson Hole on Friday in hopes of finding further clues about the possibility of less restrictive monetary policy.
The Dollar (+0.2%) gains a few fractions more against the Euro, towards 1.0830; Gold recovers +0.3% to $1,921, Bitcoin drops -1.3%.
In the news of French companies, Engie announces that it has signed a firm agreement for the acquisition of 100% of Broad Reach Power, a company based in Houston (Texas) and specialized in battery storage activities, from investment funds EnCap and Apollo.
TechnipFMC announced Thursday that it has won a “significant” contract with TotalEnergies as part of the development of the Girassol oil field in Angola.
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