(CercleFinance.com) – The Paris Stock Exchange should open without much change on Thursday morning in a market that promises to be wait-and-see on the eve of the start of the fourth quarter results publications.
Around 8:15 a.m., the futures contract on the CAC 40 index – January expiry – fell 12 points to 7222.5 points, announcing a start to the day around equilibrium.
The Parisian market ended Wednesday’s session with a gain of 0.75%, at 7237 points, a short distance from 7250 points, its highest of the day.
Investors gave a favorable reception to the latest inflation figures in the United States, which showed a marked deceleration in the rise in consumer prices in December.
‘The difficulty (is) now to know if this recovery is sustainable or if we are still on a ‘yo-yo’ effect, leaving the Parisian index without a clear direction’, wonder the analysts at Kiplink Finance.
Held back by the uncertainties surrounding the evolution of inflationary tensions and the pace of the Fed’s monetary policy tightening, the Paris market is struggling to maintain its upward momentum since the start of the year, which leads it to stay below its recent records.
Investors are now waiting for quarterly corporate results to see if high equity market valuations are justified.
The first real test will come tomorrow with the publications of the American banks JPMorgan Chase, Citi and Wells Fargo, which usually kick off the earnings season.
Tomorrow will also be rich in economic indicators across the Atlantic, with a host of statistics on the menu including retail sales, import prices, industrial production and consumer confidence in Michigan.
In the meantime, participants will learn today in the United States of unemployment benefit claims and industrial producer prices which will provide more information on the labor market and inflation, two factors closely followed by the fed.
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