(CercleFinance.com) – The Paris Stock Exchange should end the session with a gain of +0.5%, or more given the Nasdaq’s gain of +0.4% which erases its (small) initial losses.
The CAC40 has been hovering around a pivot of 7,330 for more than 6 hours, the index being notably driven by Renault (+4%) and Teleperformance (+2.3%).
The Euro-Stoxx50 advances by +0.6%, Frankfurt and Amsterdam gain +0.5% (good homogeneity of scores) and Wall Street opens on a mixed note: the S&P500 gains +0.3% while the Dow Jones step back that much.
Investors are well aware that US central bank officials will approve a ‘pause’ tonight but remain internally divided on future monetary policy decisions (and expectations for December 31 range from 4.75% to 5.50% according to various members of the FED).
“Several governors and the chairman of the Fed, Jerome Powell, wish (…) to take a break in June to better assess the impact of the rate hikes already adopted and the recent tensions within the banking sector”, explains César Perez Ruiz, chief investment officer at Pictet Wealth Management.
If the resistance of the American economy pleads in favor of a tightening, the ebb of inflation, again attested yesterday by the figures of consumer prices, militates him for a ‘status quo’.
In terms of figures, according to the Labor Department, producer prices in the United States fell by 0.3% (more than expected) in raw data in May compared to the previous month, but they remained stable excluding food, energy and commercial services.
Over 12 months, the increase in US producer prices in May stood at 1.1% on an unadjusted basis and 2.8% excluding food, energy and commercial services, after annual rates of 2.3% and 3% respectively. .3% observed in April.
On the European side, seasonally adjusted industrial production increased by 1% in the Eurozone and by 0.7% in the EU, according to Eurostat, after falls of 3.8% in the eurozone and 3.2 % in the EU in March compared to February.
In the euro area, industrial production increased by 0.2% in the euro area and by 0.1% in the EU, compared to annual variations of respectively -1.4% and -1.2% in March.
The production of capital goods increased by 14.7% and that of energy by 1%, while that of intermediate goods fell by 1%, that of durable consumer goods by 2.6% and that of non-durable consumer goods by 3%.
This morning, investors had learned of a decline in industrial production in Great Britain in April, confirming the difficulties currently encountered by the sector.
After rising 0.7% in March, British industrial production fell 0.3% in April, the National Statistics Institute (ONS) announced on Wednesday, where economists were rather expecting a drop in production. 0.1%.
The bond markets, in these hours preceding the Fed’s press release, are very very calm with +3Pt on our OATs at 2.981%, the Bunds +2.5Pts at 2.451%: on the other hand, the US T-Bonds relax by -5pts at 3.792%.
The Dollar weakens further (-0.55% towards 1.0850) and this causes a symmetrical rise in the barrel of ‘Brent’ by +1% towards $75 ($75.5 at the high of the day).
In French company news, Casino gains almost 20% on the SBF 120, after indicating that it received a preliminary letter of intent from Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari relating to a proposal to strengthen its funds. clean.
TotalEnergies announces that it has signed a framework agreement with the American company NextDecade to participate in the development of the Rio Grande LNG (RGLNG) project, a natural gas (LNG) liquefaction plant located in southern Texas.
ArcelorMittal and LanzaTech Global announce the successful start of production of the first ethanol samples by ArcelorMittal’s flagship Carbon Capture and Utilization (CCU) facility in Ghent, Belgium.
Finally, Icade announces that it has signed the definitive protocol with Primonial REIM and the minority shareholders of Icade Santé and IHE, thus confirming the organization of the full sale of its healthcare portfolio for a valuation of 2.6 billion euros. .
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