The Paris Stock Exchange is moving around equilibrium in the first exchanges on Friday (+0.02%), in a weekend marked by the speeches of central bankers in Jackson Hole (United States), starting Jerome Powell , the US Federal Reserve.
The star CAC 40 index advanced by 1.34 points to 7,215.80 points shortly around 9:20 a.m. and after having opened slightly lower. Thursday, it was down 0.44%.
Over the week, marked by a marked easing in interest rates and the confirmation of weak economic activity in August, it rose by 0.77%.
Investors are now waiting for central bankers to speak at their annual meeting in Jackson Hole (United States). Jerome Powell of the US Federal Reserve (Fed) will speak around 4 p.m.
In practice, the meeting should focus on structural changes in the global economy, according to its stated theme, but for the experts, any indication of the evolution of monetary policy will be particularly scrutinized.
The message on data dependency at the last monetary policy committee meeting was clear, and it is too early to abandon this approach, analysts at Deutsche Bank say.
For them, it will be interesting to see if we get more information on Powell’s views on inflation, and if he sticks to the idea that getting inflation back to its target level will require weakness. economy, in particular through a higher unemployment rate.
Since March 2022, the institution has increased its rates eleven times, to take them from a level close to zero to a range between 5.25% and 5.50%.
On the bond market, the interest rate on the French 10-year loan fluctuated around 3.06%, against 3.03% the day before, still far from its levels at the start of the week, above 3.20% .
Good publicity for JCDecaux
The French advertising display giant JCDecaux rose 3.50% to 16.86 euros after the improvement of the recommendation of analysts at Deutsche Bank on the title, from keeping buying.
The opportunity to buy JCDecaux, a high-quality name in the media sector, arises when cyclical concerns intensify. We believe this is currently the case, they explain, also mentioning the additional income that could come from the Paris Olympic Games in 2024.
Over the year, the stock fell by 4.75%.