The Paris Stock Exchange fell by 0.24% Thursday in the first exchanges and is heading for its seventh session of decline in a row, a first since February 2022, deflected by the rise in oil prices and the weakness of the economic situation.
The star CAC 40 index fell by 17.11 points to 7,176.98 points around 9:20 a.m. On Wednesday, it had cd 0.84%, lead by luxury stocks.
The New York Stock Exchange ended in the red on Wednesday, in a lackluster market, marked by profit taking and against the backdrop of the specter of inflation: the Dow Jones lost 0.57% and the Nasdaq 1 .06%.
Wherever investors look, tensions are present. In Europe, the economic slowdown is compounded by the rise in commodity prices, which poses a risk of a resumption of inflation.
Conversely, in the United States, the economic outlook is so good that it is becoming uncomfortable for investors, according to Ipek Ozkardeskaya, analyst at Swissquote: Wednesday’s ISM services indicator remained at a solid level, and the price component increased more than expected, rekindling fears that it will translate into a further run-up in prices.
These elements are also reflected on the bond market by the rise in government borrowing rates, which are approaching their highest level of the year, reached in August.
In France, the trade deficit on the exchange of goods stabilized at 7.8 billion euros in July, after reaching 7.7 billion in June, customs said on Thursday.
In China, exports fell again in August, the latest sign in a long series of indicators reflecting a slowdown in the world’s second economy, but the government is still resisting the idea of a recovery plan.
Scor wants to improve its business value
The reinsurer Scor (+2.79% 29.08 euros) wants to increase its economic value by 9% per year until 2026, according to a long-awaited strategic plan and published Thursday.
The economic value of the group takes into account the sum of equity and expected future profits.