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 Paris market advanced by 0.28% to 6,002.08 points around 10 a.m. It had given up 0.90% on Wednesday after recovering more than 6% in the previous three sessions.
The early week rebound 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 also rejoiced 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 American economy, which reduces expectations of a slowdown in the pace of interest rate hikes. interest by the US Federal Reserve – got the better of this fragile upturn on Wednesday.
The Fed has also warned on several occasions 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 engine country of the European economy but on the verge 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 Statistics Bureau.
Investors will listen to speeches from several Fed officials during the day 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 September’s consumer price index (CPI) and company results, which begin to be published on October 13.
“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 already significant volatility on the markets”, warns John Plassard, investment specialist 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.
Degraded Eramet
The action of Eramet (-7.94% to 78.25 euros around 10:00 a.m.) suffered from a drop in recommendation from “outperform” to “neutral” on the title by Exane BNP Paribas, according to the Bloomberg agency. In its wake, ArcelorMittal fell 2.09% to 21.31 euros.
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