(CercleFinance.com) – The Paris stock market fell nearly 0.7% around 6,510 points, penalized by the decline in banking stocks such as Société Générale and BNP Paribas (-2.5%), Crédit Agricole (-2.2 %) and by the tightening of the automotive sector, with Renault (-2.9%) and Stellantis (-2.7%)
August obliges, the session remains marked by low volumes, with less than 1.7 MdE exchanged since the opening, a characteristic of summer sessions.
Few real catalysts were expected in this session of the ‘three witches’. However, investors took notice this morning of the German industrial producer price index. This rose by 37.2% in July 2022 compared to the same month in 2021, the largest increase ever recorded compared to the corresponding month of the previous year, according to the Federal Statistical Office.
In June, the increase was +32.7% and in May +33.6%. Compared to June 2022, the overall index rose 5.3% last month, the largest increase ever from the previous month.
Over the week as a whole, the CAC 40 is posting a decline of 0.3% at this stage, a figure which should not make us forget the increase in the index of more than 5% over the last month and 4% over the last quarter.
The week turned out to be relatively contrasting between the solid results published by large American companies and economic data deemed more worrying, attesting to a slowdown in activity on both sides of the Atlantic.
In the bond compartment, the yield on ten-year US Treasuries was stable at 2.88%, while its German equivalent was around 1.10%.
On the energy market, crude oil prices are falling back after their recovery in recent days, with a barrel of American light crude (West Texas Intermediate, WTI) falling back below the 90 dollar mark and a barrel of Brent at 95 $ (-1%).
In corporate news, Alstom announced last night that the Board of Directors of SNCF Voyageurs has approved an additional order for 15 new generation Avelia Horizon (TGV) very high-speed trains, for an amount of almost 590 million euros.
IT Link posted for its first half of 2022 a turnover growth of 9.7% to 32.46 million euros, in the high range of its forecasts, with increases of 9.2% in France and 15 .8% internationally.
Finally, McPhy Energy lost more than 1.5% in Paris, penalized by an analysis by Berenberg, which this morning reduced its price target for the share from 21 to 18 euros in anticipation of ‘difficult times’ for the specialist in hydrogen production.
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