(CercleFinance.com) – The Paris Stock Exchange ends the session with a gain of 0.98%, at 7286 points, notably driven by Carrefour (+3%) then the ‘technos’ with ST-Micro (+2.9% ) and Eurofins (+2.5%).
After yesterday’s announcement of a jump in new home sales, followed by a sharp rise in the consumer confidence index in the United States, optimism seems to have returned to the markets, with investors starting to believe in the possibility of a hard landing for the economy.
‘Without a recession in the United States, a global recession is not likely’, remind the teams of Evli, a Scandinavian management company.
A point of view shared by the strategists of Carmignac.
“As long as the economy slows without collapsing and the pace of disinflation continues, restraining long-term interest rates, equity markets should remain on a crest line”, estimates Kevin Thozet, the one of the Parisian investment fund strategists.
But if global growth continues to show strength in the short term, it also means that central banks will have to continue to tighten policy in the months ahead.
For the President of the ECB, inflation remains too high in Europe and the institution will have to continue its fight against rising prices ‘whatever the cost’.
All is not rosy in Europe, despite the strength shown by the indices (E-Stoxx50, DAX and CAC at +1%): the morale of German households deteriorated as July approached, in a climate of heightened uncertainty regarding the country’s economic prospects.
The index compiled by the GfK institute in Nuremberg, calculated from a sample of 2,000 people over the first part of the month that is ending, sank to -25.4 points, against a revised figure of – 24.4 in June.
This indicator shows that household confidence has been affected by the greater difficulty in saving expressed by households, primarily in the face of persistent inflationary pressures.
The bond markets relax in the Euro Zone: the OATs and the Bunds erase 3 Pts of return each to 2.864% and 2.335% respectively, the Italian BTPs only relax by -1.5 Pt to 3.995%.
US T-Bonds erased 1.5pt at 3.764%, with no real ‘market mover’.
Latest ‘number of the day’: Crude oil inventories reached 453.7 million barrels in the week of June 19 in the United States, signaling a decline in inventories of 9.6 million barrels compared to the previous week according to the EIA (the US Energy Information Agency).
This boosts the price of ‘Brent’ oil, which recovers +1.5% in a few minutes from 71.8 to $73 in London.
In the news of French companies, Orpea indicates that it has asked Euronext Paris and the Luxembourg Stock Exchange to suspend the listing of all of its financial instruments, pending the results of the votes of the classes of parties affected on its plan. accelerated backup.
TotalEnergies announced on Wednesday that it plans to invest 70 million euros in 2024 in its biorefinery in La Mède (Bouches-du-Rhône), with the aim of being able to process up to 100% waste from circular economy to produce biofuels.
SES Space & Defense announces that its subsidiary DRS Global Enterprise Solutions (GES) has been awarded a five-year general X-band purchase contract valued at an estimated $134 million by the Department American Defense.
Finally, Thales announced on Wednesday that it has entered into a new partnership with Google Cloud to develop data protection features based on generative artificial intelligence.
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