The Cac 40 in the red after disappointing job creations in the United States


The Paris Bourse lost ground after the employment statistics in the United States, which was preceded, in the middle of the morning, by the announcement of a record inflation rate of 5% over one year in December in the euro zone, which questions the ECB’s strategy. The US Department of Labor reported 199,000 job creations in the non-agricultural sector in December, against 447,000 anticipated by the consensus formed by Bloomberg and 249,000 in November. The unemployment rate fell 0.3 percentage points to 3.9% of the labor force, from an estimated 4.1%. Finally, the average hourly wage rose 0.6% over one month and 4.7% over one year, after surging to 5.1% in November. In the bond market, the yield on the US 10-year bond is up 3 basis points to 1.7559%.

At 2.45 p.m. on Cac 40 loses 0.47% to 7,215.84 points in a business volume of 1.7 billion euros. The contracts futures March on American indices oscillate between equilibrium, for the Dow jones, and a decline of 0.4% for the Nasdaq 100.

The Fed should not deviate from its path

The statistics are unlikely to change the trajectory of the US Federal Reserve, which indicated Wednesday evening, in the “minutes” of the last meeting of its monetary policy committee, that it could raise interest rates even before its goal of full employment is reached. ” The jobs numbers don’t really matter in terms of expectations about the Fed’s policy at the moment. What really matters to her is inflation ยป, Wrote this morning Ipek Ozkardeskaya, senior analyst at Swissquote.

Appointment is therefore made for next Wednesday and the publication of the consumer price index for December in the United States. ” One of the main themes for the market in 2022 is expected to be how different types of assets behave as central banks reduce their monetary support., points out Jim Reid, strategist at Deutsche Bank, especially since inflation has reached multi-year highs in several countries “. Tensions in the job market and soaring inflation could push the Fed to carry out its first monetary tightening as early as March, if contracts are to be believed futures on Fed funds, before tackling the reduction of its balance sheet, which exceeded 8.8 trillion dollars in December.

STMicroelectronics does better than expected

Biggest increase in the Cac 40, STMicroelectronics increased by 4.3%. The semiconductor maker announced that it posted revenue of $ 3.56 billion (+ 11.2% sequentially) in the fourth quarter of fiscal year 2021, higher than expected, due to a sustained demand for its products in all of its markets. For Citi analysts, these preliminary data point to strong short-term demand and reflect the group’s ability to produce and supply in this time of scarcity.

ArcelorMittal Up 2.4% on the heels of the 1.4% rise in the Stoxx 600 in basic materials in anticipation of stimulus from China to boost demand. Eramet for its part takes 2.6%.

Trigano up 7.2%. The motorhome manufacturer has posted a 9.2% increase in turnover for the first quarter of its 2021-2022 fiscal year, in a context marked by strong demand for its products and despite supply difficulties in rolling bases.

Finally, Elior fell 3.8%. Societe Generale lowered its price target on the collective catering group’s share from 7.10 to 6.70 euros while maintaining its opinion to “keep”.




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