CAC40: recurrence -1.1%, volumes only one.4 billion euros – 6. 8. 2022 at 15:58

(CercleFinance.com) – The Paris Stock Exchange lost more than 1.1% around 6,425 points (at still tight volumes of 1.4 billion euros), with investors now hanging from the European Central Bank’s (ECB) announcements, which are expected tomorrow.

Euro-Stoxx50 fell -0.8% to 3.775, DAX40 -0.9%.

On Wall Street, U.S. indices opened lower, but that didn’t erase Tuesday night’s gains: the S & P500 lost -0.5%, the S & P500 -0.6%.

After Tuesday, the OECD World Bank is lowering its global growth forecast for 2022 to 3% (compared with 4.5% or -33%) and inflation is revised upwards to + 8.3% (+ 2.5 points).

In the face of still very high inflation, the central bank should show tomorrow its intention to continue the process of monetary normalization, which began last December.

His board of governors is likely to decide to end its regular asset purchase program (APP) and prepare the market for rate hikes in July and September, the first in 11 years.

Investors are also waiting with some tension for US consumer price statistics, which will be released on Friday and which are also likely to strengthen the market recovery or cause it to fall again.

In the US government yield market, the start of the day was marked by a new episode of tension, as ten-year government bonds rose again above the symbolic 3% mark (+ 4.5 points to 3.017%).

In the eurozone, our OATs add +1 point to 1.876%, jackets also +7.2 points to 1.3590%, BTP + 10% to 3.491%.

In terms of statistics, investors may have noticed data on France’s trade balance. This shows a deficit of almost 12.2 billion euros in April, compared with a deficit of more than 12.6 billion in the previous month, according to CVS-CJO data from the customs administration.

This slight month-on-month improvement reflects a 1.6% increase in French exports to more than 46.7 billion euros, although imports remained almost stable (+ 0.4%), around 58.9 billion.

Across the Rhine, after a 3.7% decline in March (a revised figure from the original estimate of -3.9%), German industrial production rose 0.7% at a sequential rate in April, according to the Federal Statistical Office.

On the indicators side, investors will be monitoring wholesale stocks in the United States in the afternoon – statistics that shed light on the health of manufacturing activity and, ultimately, on the intensity of growth.

Finally, in corporate reports, Schneider Electric says it has reached an agreement with Watlow Electric Manufacturing Company, a global manufacturer of complete industrial heating systems, to sell its Eurotherm business to it.

Atos fell more than 3.5%, lagging behind the trend in Paris amid unfavorable comments from Oddo BHF, who reiterated its view of “underperformance” on the name of the IT services group, despite a target price increase of 21.5 at 23 euros.

The research department believes that “the risk / reward still does not appear to be favorable to the CMD” on June 14, which he said is “subject to growing market expectations” and suggests that the valuation seems “too rich”.

Getlink on the occasion of holiday departures for the British “half time” and the platinum jubilee of Queen Elizabeth II. recorded record attendance (since the summer highs in 2020) for its Eurotunnel. Getlink also points to a traffic that has more than doubled in the case of Flexiplus compared to 2019, and highlights the return of duty-free sales at its Folkestone and Coquelles stores following the UK’s exit from the EU.

Finally, ID Logistics announces its establishment in Italy by opening a logistics platform in Casei Gerola, located between Genoa and Milan, where 350 employees work daily (up to 500 at peak times).

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