(BFM Bourse) – The Parisian index is moving in the red at mid-session Thursday, as investors remain nervous before the intervention of the President of the Federal Reserve, Jerome Powell, in Jackson Hole.
The CAC 40 is struggling to move forward. The Parisian index is moving down at mid-session, falling 0.1% to 6,379.40 points, after gaining 0.39% the day before and ending a series of three consecutive declines.
As in all European markets, caution paralyzes the Parisian rating before the speech of the President of the Federal Reserve (Fed), Jerome Powell, Friday as part of the Jackson Hole symposium. “During this event, Jerome Powell is likely to assert his restrictive bias, given that inflation is climbing to 40-year highs and the big question remains how long the Fed will take” to get these prices back to normal. normal, explains Naeem Aslam, market analyst at AvaTrade.
Equity markets were temporarily buoyed by support measures from China. Beijing has decided to release an additional 1 trillion yuan, or about 145 billion euros, to invest in infrastructure, Bloomberg reported.
The gas always higher
Recession fears remain high as gas prices in Europe continue to soar. The Dutch TTF contract for delivery in September is up 5.4% at 308 euros per megawatt hour.
Investors are also digesting the indicators of the day. German GDP for the second quarter was revised from stable to +0.1% in a second estimate published by Destatis. Still in Germany, the Ifo business climate index fell to 88.5 in August from 88.7 the previous month. The figure, however, remained above economists’ expectations, which averaged 86.8, according to a consensus quoted by Reuters.
Market operators are also awaiting the second estimate of US GDP for the second quarter, which will be published at 2:30 p.m.
Erytech collapses
As for values, the reinsurer Scor stands out, taking 1.7%, driven by an increase in the recommendation of KBW, which went from “underperformance” to “outperformance” on the value.
Excluding SBF 120 Erytech collapsed by 20.4% after having decided not to seek authorization for its potential treatment against acute lymphoblastic leukemia (ALL).
On the other markets, the euro regained 0.2% against the dollar to 0.9985 dollar. Oil is changing little. North Sea Brent crude for October delivery rose 0.1% to $101.32. The October contract for light sweet crude (WTI) listed on Nymex lost 0.1% to 94.81 dollars.
by Julien Marion
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