(CercleFinance.com) – The Paris Stock Exchange ended the session at its lowest level of the day, with a decline of 1.52% which took the index to 6,816 points, notably penalized by Publicis (-3.5%), Eurofins Scientific (-3.1%) or STMicro (-3.1%).
Over the past week, the CAC40 lost 2.6% and has only gained 5.3% since the start of the year.
The markets are particularly sensitive to the geopolitical context in the Middle East, without forgetting the 10-year bond rates which remain at levels which remain high despite a slight easing, with T-Bonds at 4.90%, a German bund at 2 .88% and French OATs at 3.5%.
Beyond this algebraic poor performance, the Chartists will note that the major support of 6,880 (from March 15) did not hold in this session of the ‘3 witches’ where it could – in other circumstances – have been defended with more determination and a good chance of success.
The markets are now under stress as investors wonder about the possibility of a new rate increase in the United States by the end of the year.
Yesterday, during his speech at the Economic Club of New York, Jerome Powell, Chairman of the Fed, noted that economic activity remained solid and that the trajectory towards 2% inflation was still not not firmly established, which could justify a new turn of the monetary screw.
On the geopolitical front, the announcement this morning of the interception by the US Navy of projectiles launched from Yemen towards Israel could cause a rise in risk aversion.
All these tensions continue to favor safe havens like gold, which climbs another 2.3% to reach $1,994 per ounce.
For its part, the barrel of Brent gained 0.2%, above $93.
In the news of French companies, Klépierre indicates that its net rental income amounts to 736.7 ME, up 8.6% over 9 months at constant scope, thanks in particular to strong positive indexation and an increase in ancillary income (variable rents, parking income and Specialty Leasing activities).
Alstom announces the inauguration of RAPIDX, India’s first semi-high speed regional rail service.
Finally, Verallia published a turnover of 3,075 ME for the first 9 months of 2023, an increase in published data of 22.1% compared to last year. At constant exchange rates and scope, turnover increased by +22.5% (and +18.6% excluding Argentina).
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