The Paris stock exchange should continue to rise on Wednesday, engaged in a start to the year with a bang after a complicated trend in 2022, investors are mainly waiting for the report from the US Federal Reserve after the closing.
The futures contract for the CAC 40 star index was up 0.30% about forty minutes into the session.
The Paris rating extended its hike on Tuesday (+0.44%) after a jump of 1.87% on Monday for its first session of the year. In 2022 it recorded the worst year since 2018 (-9.5%).
Wall Street closed lower for its first session of 2023, continuing the dismal trend of the end of the previous year, weighed down in particular on Tuesday by the decline in Tesla and Apple shares.
“European indices are expected to open without a real trend this morning in the wake of the New York shutdown and doubts about global economic growth after the call for caution from the International Monetary Fund (IMF),” says John Plassard, investment specialist at Mirabaud .
On the trading floor, fears of a rise in interest rates and a recession in the United States add to the uncertainties related to the explosion of Covid 19 cases in China that put pressure on growth prospects.
“Investors are now expecting a slew of data this week that could drive the outlook for growth and monetary policy, including manufacturing PMIs from major economies, a major monthly report on US jobs and the latest Fed,” Mirabaud points out.
After the close of Paris, market operators will listen to the minutes of the last monetary meeting of the US Federal Reserve at the end of which it had raised rates by 50 basis points and reaffirmed its intention to continue its restrictive policy until the inflation will not drop to an acceptable level.
They expect indications on the path of interest rates in 2023.
Value to follow
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