Published January 3, 2023, 4:03 pm
The Paris Stock Exchange is on the verge of aligning a second consecutive rising session, which would be the first since December 1st. The market is hoping for a recovery of the Chinese economy after almost three years of zero Covid policy. While Caixin’s manufacturing PMI remained in the contraction zone in December, the survey reflects renewed optimism from companies, with 12-month manufacturing expectations hitting their best level since February. In the United States, the same ISM index is confirmed at 46.2 points in the final figure for December, after 47.7 in November.
The market also welcomes the slowdown in inflation in Germany. Consumer prices rose 9.6% year-on-year in December in harmonized euro zone data, versus 10.2% expected and 11.3% in November. In one month they decreased by 0.8% after the stagnation of November. For Franziska Palmas, of Capital Economics, this sharp drop in inflation” it is due to the exceptional support from energy prices, so a reversal is likely to occur in January. Inflation is expected to decline rapidly in March, but we believe core inflation [hors alimentation et énergie]probably up in December, will close the year well above 2% “.
At about 4:00 pm, the Bedroom 40 gains 0.73% to 6,642.89 points on a turnover of 1.45 billion euro. In New York, the Dow Jones makes 0.25%, while the Nasdaq Composite it is stable. You are here down 8.4%. The group delivered 405,278 vehicles in the fourth quarteragainst the 420,760 expected by analysts.
In the crosshairs the Fed and the US occupation
Investors are bracing for the week’s big headlines, including the minutes of tomorrow’s latest Federal Reserve Monetary Policy Committee meeting and Friday’s December US jobs report. The first ” should once again confirm the Federal Reserve’s determination to fight inflation, but more importantly, the jobs data will provide a measure of the Fed’s success in fighting inflation summarizes Ipek Ozkardeskaya, senior analyst at Swissquote.
Central bank officials warned against expectations of a change in monetary policy and warned markets not to expect a rate cut this year. The ECB has adopted the same attitude. 2023 could” it will be a year of significant slowdown in global growth and traders wonder whether this will justify an easing of monetary policy during the year. Central banks have staunchly rejected the idea and I assume the same is true of the IMF for nowwrites Craig Erlam, market analyst at Oanda. But markets could lean in that direction if the data [macroéconomiques] stop stalking us “, it fades.
Thales has degraded, GTT stops its activities in Russia
GT extension down 3.6%. The manufacturer of tankers for LNG carriers has announced that it will cease its operations in Russiawhich will have an “ifinancial impact primarily from fiscal 2023 “.
Thales yields 2.6%. Jefferies has downgraded the title of defense electronics specialist from “buy” to “hold”. The stock is up more than 59% last year.
In reverse, Air France-KLM earns 1.8%. Citi reiterated its “buy” recommendation on the airline’s stock to aim for 1.85 euros.
The technological sector is also well oriented, I like it Dassault systems (+2.3%) and STMicroelectronics (+1.9%). Apple’s European suppliers are particularly benefiting from Foxconn’s announcement of a return to around 90% capacity at its Zhengzhou plant.