The Cac 40 is recovering thanks to the lull in gas prices in Europe


The Paris Stock Exchange regains a little height on Wednesday. The market reacted in particular to the end of the strike by workers in the oil and gas sector in Norway, which resulted in a 6.5% drop in gas prices on the futures market in Amsterdam after a jump of 28 % in five days. The market also welcomed the surprise rebound in German industrial orders in May. But the trend remains fragile due to heightened recession fears. Investors are also awaiting the minutes of the last meeting of the Fed’s monetary policy committee in the evening.

Around 10:30 a.m., the Bedroom 40 gained 1.48% to 5,880.39 points in a business volume of 592 million. The contracts future on US indices are hovering around equilibrium after ending in scattered order the day before.

In New York, the Dow Jones died 0.4% on Tuesday, while the Nasdaq Composite lined up a second consecutive session with a gain of 1.8%. The “techs” were indeed supported by the easing observed on the bond market, which benefited from a “flight to quality” in this period of inflationary tensions and tightening of the monetary policy of the central banks.

The euro hits a 22-year low

In the foreign exchange market, the dollar remains firm against the euro which touched a low of 22 years against the greenback on Tuesday as the ECB faces historically high inflation and the risk of exploding country yields. euro area peripherals. The US currency is also strengthening against the pound sterling after the resignation of three British ministers, including the Chancellor of the Exchequer, Rishi Sunak.

On the commodities front, the barrel of Brent from the North Sea recovered 2.2% to 104.82 dollars after falling nearly 10% yesterday. US WTI-grade crude meanwhile briefly dipped below $100 before recovering. The icing on the cake, the Chinese authorities have launched a new campaign of Covid-19 detection tests in nine districts of the Shanghai region, raising fears of a new wave of confinements in the financial hub.

Aeronautics in the spotlight

Fears of an economic slowdown are therefore becoming more and more insistent and the probability of a recession in the United States next year is now estimated at 38%, according to the latest forecasts from Bloomberg Economics. Beyond the “minutes” of the last Fed meeting tonight, the market is especially awaiting the June employment report in the United States, which will be published on Friday.

Saffron grew by 4% after the announcement by Air France-KLM of an agreement with CFM International (joint venture between GE Aviation and Safran) for the acquisition of 200 LEAP 1-A engines to equip its fleet of Airbus A 320neo and A321neo. Airbus garners for its part 2.9% and Air France-KLM 2.5%.

Alstom also won 3.8% after indicating that it had received an order estimated at 387 million euros from the Madhya Pradesh Metro Rail Corporation for the metros of the cities of Bhopal and Indore, in India.

Michelin appreciated by 2.6%. Barclays raised its recommendation on the stock of the tire manufacturer from “online weighting” to “overweight”. The same broker, on the other hand, downgraded Valeo (-4%) and Faurecia -5.2%) to “line weight” against “overweight” for the first and from “overweight” to “underweight” for the second.

Atos advance of 5.6% while Bank of America increased its stake to 7.7% of the capital and voting rights, according to a document submitted to the Autorité des marchés financiers quoted by Bloomberg.

Other technology stocks are rising in the wake of the Nasdaq’s rise. STMicroelectronics gains 3.1% and Worldline 2.8%.




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