The Paris Stock Exchange remained in reserve on Thursday in the aftermath of the minutes of the December meeting of the US central bank, awaiting various economic data to see the context more clearly.
At 10:50, the CAC 40 star index fell 0.44% to 6,746.42 points after a flawless start to the week that saw it post gains of 4.68% in three sessions.
After a dismal 2022, European markets were reassured earlier in the week by inflation deflation, the absence of a sharp energy crisis and lower bond yields, which favor equities.
Wall Street closed slightly higher on Wednesday despite the results of the December meeting of the US central bank, none of whose monetary policy officials expect a decline in its key rate in 2023.
Members of the Fed’s monetary policy committee “remain concerned about investor optimism about the end of the key rate hike,” writes Christian Parisot, economist at Aurel BGC.
Market participants continue to hope and anticipate that the Fed will soon end up loosening the screws in the face of signs of slowing inflation. They fear that the restrictive policies of the major central banks will lead several countries into recession during the year.
Statistically, investors are awaiting December’s monthly report on private sector job creation (ADP survey) and weekly jobless claims in the US.
For Ipek Ozkardeskaya, an analyst at Swissquote Bank, “even the avalanche of workforce reductions announced by large US companies and a weaker ADP report will not be enough to convince that the labor market is slowing”, a condition for the Fed to adjust its policy monetary .
On Friday, the market will be watching December consumer prices in the Eurozone to see if the trend of lower inflation materializes.
Stellantis gets on the flying taxis
The car manufacturer Stellantis (+0.32% to 14.22 euros) announced Wednesday at the great electronics show CES in Las Vegas that it will produce electric planes developed by the American company Archer and destined to become flying taxis.
Technip Energies is navigating a contract extension
Technip Energies (+3.85% to 15.77 euros), supplier of energy projects and services, announced Thursday the five-year extension of a project management consultancy contract worth between 250 and 500 million euros in turnover with the public company Kuwait oil company (COC).
Air France-KLM is gaining momentum
Shares of the French-Dutch company rose 3.69% to 1.38 euros like their European counterparts. The group has appointed Olivier Mazzucchelli to head its low-cost airline Transavia France, replacing Nathalie Stubler who will now focus on decarbonising the group.
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