The Paris Stock Exchange closed down 0.80% on Wednesday, showing caution ahead of Thursday’s European Central Bank meeting and showing concern after downward revisions to economic forecasts.
The star CAC 40 index rose by 51.72 points to 6,448.63 points. On Tuesday, the Parisian coast had lost (-0.74%) a large part of the ground regained on Whit Monday.
For Guillaume Chaloin, director of equity management at Meeschaert Amilton AM, fears of an economic recession are weighing on the markets.
“Investors continue to wonder about inflation, whether or not to continue the rate hike and at the same time we see a slowdown in the economy, therefore perhaps a recession to come”, he explains. .
After the World Bank, which on Tuesday mentioned growth of 2.9% for this year, the OECD in turn forecasts a sharp decline in global growth, to 3%, and a surge in inflation this year.
Three days before the publication of inflation figures for May in the United States on Friday, the Treasury Secretary warned on Wednesday that the rise in prices should “remain high”, without specifying a deadline.
The consumer price index should also accelerate again over one month, according to a consensus of analysts.
Guillaume Chaloin notes that “there is also caution upstream of the ECB”. “The question is whether Christine Lagarde’s speech could be more aggressive than expected by investors given the evolution of inflation figures,” he comments.
Orpea and Korian suffer
The action of the Korian group fell 9.51% to 16.94 euros after the filing of 30 complaints from families of residents before a dozen prosecutors in several regions.
The Orpea title lost 3.13% to 24.46 euros, while searches were underway at the headquarters and in the regional directorates of the private group of Ehpad, as part of the investigation opened in April on suspicions of institutional mistreatment and financial offences, AFP learned from concordant sources. Since the beginning of the year, the Orpea share has lost more than 72% and that of Korian more than 38%.
© 2022 AFP
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