The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / Eric PIERMONT)
The Paris Stock Exchange rose 0.75% on Wednesday after a session rich in corporate results and a few hours before the announcement of the American Federal Reserve (Fed) to raise its key rates.
The star CAC 40 index took 46.49 points, ending at 6,257.94 points a session filled with “rather reassuring” results and whose tone was set across the Atlantic by tech giants Alphabet (Google) and Microsoft .
For Stéphane Renou, expert in financial investments at Milleis, “the trend of the session is positive although contrasting” from one company to another.
Observing “reassuring results”, Mr. Renou points in the direction of “files which rebound very significantly such as Wordline, Atos or Elior, which has largely reassured about its prospects for future results”.
However, in this period of high inflation and a fragile economic environment in Europe, investors remain “cautious” ahead of the Fed’s rate hike announcement.
The speech of its director, Jerome Powell, who must guide the markets on the future conduct of the central bank, will be particularly scrutinized.
The IMF announced yesterday that it is lowering its forecasts for growth in the world in 2022. The euro zone thus lost 0.2 points, to 2.6%, weighed down by Germany, France and Spain, as a result, among other things, the war in Ukraine.
Gas deliveries from Russia to Germany and other Western European countries were notably reduced on Wednesday to just 20% of the capacity of the Nord Stream 1 gas pipeline.
Good news in France, however: after several quarters of sharp decline, the number of unemployed fell by 0.8% (excluding Mayotte) in the second quarter, to 3.165 million, the labor market continuing to resist uncertainties economic.
© 2022 AFP
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