The Paris Stock Exchange was up slightly on Thursday morning after falling the day before, with investors having to navigate a little on sight ahead of the highly anticipated publication of the monthly US jobs report and the start of the earnings season next week. .
The Parisian place advanced by 0.28% 6,002.08 points around 10:00 a.m. She had dropped 0.90% on Wednesday after recovering more than 6% in the previous three sessions.
The rebound early in the week on the New York Stock Exchange also fizzled on Wednesday.
The dazzling recovery in equity markets was underpinned by hopes of a more accommodative repositioning of interest rates by the US central bank (Fed).
Investors were also pleased on Tuesday that the Bank of Australia raised rates less than expected.
But solid job creation in September in the private sector and buoyant services activity – because they underline the resilience of the US economy, reducing expectations of a slowdown in the pace of rate hikes. interest in the US Federal Reserve – got the better of this fragile upturn on Wednesday.
The Fed has also warned several times that the effects of its measures to fight inflation would take time and that rates should continue to rise in the coming months.
Investors are on the lookout for any economic statistics likely to help them assess the state of the economy in order to better anticipate the trajectory of central bank interest rates.
In Germany, the driving force of the European economy but on the brink of recession because it is very exposed to the energy crisis, orders to the manufacturing industry fell by 2.4% in August 2022 compared to the previous month, according to the Federal Office statistics.
During the day, investors will listen to speeches by several Fed officials and read the minutes of the European Central Bank’s monetary policy meeting in September.
But they will have to wait until next week to find out about the consumer price index (CPI) for September and the results of companies, the publications of which begin on October 13.
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The evolution of the profits of American companies in the third quarter could, in the event of negative surprises, continue to plunge the indices and fuel the volatility already significant on the markets, warns John Plassard, specialist in investment at Mirabaud.
EDF raises 3 billion in debt
The EDF share took 0.29% to 11.96 euros. The group announced on Wednesday that it had raised three billion euros in debt the day after the official launch of the renationalization by the French state.
Eramet degrad
The action of Eramet (-7.94% 78.25 euros around 10:00 a.m.) suffered from a drop in recommendation from outperforming neutral on the title by Exane BNP Paribas, according to the Bloomberg agency. In its wake, ArcelorMittal fell 2.09% to 21.31 euros.