Paris has kept its spirits up despite the techs


October is coming to an end and it ends well! After four weeks of rebound, the Cac posted a monthly increase of 8.86%, equivalent to its performance in July (+ 8.87%), which reduced its decline over the year to 12%. Barring a market accident on Monday, October 2022 will therefore be the best since October 2015. It will owe it in large part to the past week (+ 3.94%), the best since mid-March.

On Wall Street, the situation is very contrasting: if the Dow Jones offers an increase close to 12% in October, that of the Nasdaq is barely close to 1.5% (Friday at 5 p.m.) and, again, thanks to the good rise Apple on the eve of the weekend, after its better than expected results.

The apple firm, in fact, stood out in a week marked by the quarterly publications of the American tech giants. Excluding Apple, the Gafams disappointed and were punished for it, for their past figures and for their prospects.

Paris has thwarted the trap, in a week which nevertheless included many others on the side of businesses and the economy. But, among the eighteen major groups of the Cac 40 which revealed their figures for the third quarter, the good surprises and, in the best of cases, the raising of objectives prevailed over the disappointments. (read p. 4).

The markets were also buoyed by an easing in interest rates, triggered on Friday 21 October by the Wall Street Journal, that the Federal Reserve may begin to slow the rise in its fed funds from December. This hope was supported on Wednesday, unexpectedly, by the Bank of Canada, which raised its rates by only 50 basis points instead of the 75 anticipated. The lack of surprise from the ECB, which opted for a 75-point tightening of the screw on Thursday, as expected, also helped calm the markets. While waiting for the decisions of the Fed, on November 2…




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