Very negative September on the Paris Stock Exchange

The Paris Stock Exchange ended on a rebound on Friday, leaving behind a very negative month of September against a backdrop of the fight against inflation and fears of economic recession.

The CAC 40 index gained 1.51% to 5,762.34 points but lost 5.92% in September.

The market rebounded after a series of sessions in the red, despite the latest contrarian figures on inflation in the euro zone and the United States published on Friday, noted Nicolas Budin, head of equity management Myria AM.

The market is feverish and nervous, but it does not capitulate, underlined the expert interviewed by AFP.

Inflation in the euro zone jumped again in September to reach 10% over one year, a new record fueled by soaring energy and food prices.

In the United States, the PCE price index, the most followed by the American central bank (Fed), emerged up 0.3% over one month in August, more than the increase of 0.2% expected. by analysts.

These data plead in favor of a continuation of increases in key rates by central banks to combat this persistent inflation by slowing down the economy. But market participants fear a lack of control that would cause a recession.

Investors expect the monetary tightening to continue until the end of the year, the rates will continue to rise, notes Mr. Budin.

The Fed vice-chairwoman warned on Friday that it would take time to see the full effect of inflation-fighting measures and that rates should continue to rise, especially as additional inflationary pressures cannot be ruled out. .

Beyond the context of forecasts of recession, energy and geopolitical crisis, which worries investors every day, the situation in the United Kingdom was the engine of the decline this week, notes Mr. Budin.

The Bank of England intervened on the bond market on Wednesday to avoid risks to the financial stability of the United Kingdom after budget announcements whose unquantified cost had frightened the markets.

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Millions for Valneva

The Franco-Austrian laboratory Valneva (+2.35% to 5.22 euros) announced that it would increase its capital by 102.9 million euros via the issue of 21 million ordinary shares in the United States and Europe, to finance the development of its vaccines against Lyme disease and against the chikungunya virus.

Atos rejects offer

The board of directors of the French computer giant Atos has announced that it has unanimously rejected an offer to buy out its Evidian branch, valuing it at 4.2 billion euros. After finishing up more than 10% on Thursday, Atos shares fell 5.69% on Friday.

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