The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange fell 0.77% on Wednesday, falling at the end of the session, the gaze still fixed on inflation and its consequences on economic activity.
The star CAC 40 index fell 49.91 points to 6,418.89 points. The day before, he had already lost 1.43%.
The Parisian rating once again experienced a volatile session, falling after having again reached 6,500 points before the opening of the American markets.
“The markets are still nervous today” with “a very disturbed and uncertain context”, note the analysts of Monocle management.
The markets are still hanging on to inflation, its consequences on economic activity, but above all the repercussions of the restrictive monetary turn taken by the central banks to curb the rise in prices.
While the past week has raised hopes of a less strong response from institutions, notably the US Federal Reserve, due to a slowdown in inflation in May, the news of the week does not confirm this trend.
Figures for other economic zones, such as the Eurozone, initially showed an acceleration in inflation.
In addition, in the United States, the growth of the manufacturing sector accelerated in May after several months of slowdown, the problems of logistics being partially absorbed, according to the index of the professional federation ISM published on Wednesday.
However, this good news can also hide less good news. The indicator “undermined the possibility of a pause in the US rate hike cycle in September,” according to CMC Markets analyst Michael Hewson.
The automotive sector recorded the best progress in Europe. A Mercedes executive told Bloomberg that the worst of the chip shortages had passed and that the situation “had nothing to do with the previous year”.
Renault gained 2.49% to 26.19 euros, and Stellantis 1.58% to 14.15 euros, the whole European sector being dynamic. Plastic Omnium also took 2.70% to 17.90 euros.
© 2022 AFP
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