(CercleFinance.com) – After spending the morning close to equilibrium, the Paris Stock Exchange fell in the second part of the session: at the final gong, the Parisian index lost 0.91%, to 6965 points, weighed down by Saint -Gobain (-4%), Schneider Electric (-3.2%) and Eurofins Scientific (-2.6%).
The good figures for Chinese growth (+4.9% during the third quarter according to the State Bureau of Statistics) were not enough to counterbalance the persistent tensions in the Middle East.
In addition to the cancellation of planned interviews between Joe Biden and his Jordanian and Egyptian counterparts, confusion still reigns around the explosion of a hospital in the Gaza Strip. These elements are currently clouding all prospects for a diplomatic outcome of the conflict.
These tensions favor safe haven values, such as gold, which rose to 1,945 dollars per ounce (+1.3%), a one-month high.
The bond market – on the other hand – paradoxically does not serve as a refuge since the yield on 10-year US Treasury bonds jumped by +7 points to 4.92%. The yield on two-year US Treasury bonds reached 5.238%, a new highest since 2006, the ’30 year’ returned to the 5% mark with +7 points to 5.02%.
The tension is also palpable in Europe with +5.2 Points on our OATs at 3.562%, +4.5 Points base on the Bunds at 2.927% (3,000% is in sight)… and Italian BTPs show +9, 8Pts at 4.998% (the 5% test is imminent).
On the quarterly side, investors will follow the highly anticipated post-closing publications from Tesla and Netflix in the evening.
On the statistics front, investors took note of the annual inflation rate in the Eurozone. This stood at 4.3% in September 2023, compared to 5.2% in August according to Eurostat. A year earlier, it was 9.9%.
The European Union’s annual inflation rate stood at 4.9% in September 2023, compared to 5.9% in August. A year earlier, it was 10.9%.
Across the Atlantic, housing starts rebounded in September in the United States, which suggests that the American economy remains well oriented despite the impact of the rise in interest rates.
According to data released Wednesday by the Commerce Department, housing starts increased 7% last month on a seasonally adjusted basis, at an annualized rate of nearly 1.36 million.
On an annual basis, that is to say compared to September 2022, construction starts show a decrease of 7.2%.
Single-detached home starts – which make up the largest portion of the residential real estate market – rose 3.2% to 963,000.
On the other hand, the number of building permits fell by 4.4% to reach an annualized rate of 1.47 million.
Finally, crude oil prices are starting to rise again, with the price of a barrel of Brent having exceeded $91 (+0.5%).
‘Oil could increase sustainably if the United States decides to strengthen sanctions against Iran – a country suspected of having approved Hamas attacks’, recall the teams at DeftHedge, a management specialist. foreign exchange and raw materials risk.
In French company news, Lagardère Travel Retail, one of the two branches of the Lagardère Group, announces that it has signed an agreement with Kastrati for the development of Duty Free activities at Tirana airport (Albania) and in the main tourist sites in the country.
Spie announced on Wednesday that it would strengthen its collaboration with the Dutch MCS in the field of private LTE and 5G networks.
SNCF Voyageurs and Alstom present the first of five battery trains ordered by the Auvergne-Rhône-Alpes, Hauts-de-France, Nouvelle-Aquitaine, Occitanie Pyrénées-Méditionranée and Provence-Alpes-Côte d’Azur regions.
Safran announced on Wednesday the signing of a services contract with the Tarmac Aerosave group, specializing in the storage, maintenance and dismantling of aircraft.
Finally, the startup 3IPK and Thales Alenia Space were selected by the European Space Agency (ESA), as part of the FutureEO program, to develop a solution for managing the traceability and integrity of observation data from the Earth using blockchain technology.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
