The Paris Stock Exchange accentuates its losses after the confirmation by the European Central Bank of the end of the emergency purchase program in the face of the pandemic (PEPP) at the end of the month. The ECB has also decided to adjust the amount of its purchases under the APP (the standard asset purchase programme) to 40 billion euros in April, 30 billion in May and 20 billion in June. , against respectively 40 billion in the second quarter, 30 billion in the third, then 20 billion in the fourth. Christine Lagarde is due to begin her press conference at 2:30 p.m. during which she will present the institution’s new economic projections. On the foreign exchange market, the euro resumed 0.15% to 1.1093 dollars. The yield on the German 10-year bond, which serves as a benchmark in the euro zone, tightened by nearly 6 basis points to 0.2730%.
At 2:15 p.m., the Bedroom 40 fell 3.27% to 6,180.96 points in a business volume of 2.45 billion euros. The contracts future on American indices yield more than 1%.
On Wednesday, the Cac 40 had recorded its strongest growth since November 2020. A “comeback” occurred in a market that had returned to the correction zone with a fall of more than 15% since its record in January, and a brief passage in ” bear market” (-20%) on Monday. Chance of the calendar, the European summit of Versailles, also begins today with the key to an investment plan in defense and energy. The European Union is considering an issue of around 200 billion euros, or 1.4% of the region’s GDP, according to analysts at Capital Economics, who add that if the plan is approved, the devil will be in the hands. details, especially since the amounts expected could be lower than expected.
Brent rises again
The meeting scheduled for Thursday between Russian Foreign Minister Sergei Lavrov and his Ukrainian counterpart Dmytro Kuleba in Antalya, Turkey, ended without any progress on a possible ceasefire or agreement on humanitarian corridors for civilians fleeing the siege of Mariupol.
The barrel of Brent from the North Sea resumed 4% to 115.62 dollars after plunging 13% on Wednesday. In question, the call for OPEC + launched by the ambassador of the United Arab Emirates in Washington in order to accelerate the recovery of its production. The Emirati oil minister later tempered this message by stating that his country is committed to the extended cartel agreements.
Across the Atlantic, the market will look at the evolution of consumer prices in February. They are expected to have risen 7.9% year on year, after rising 7.5% the previous month, a new peak since 1982.