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Paris (AFP) – The Paris Stock Exchange stalled on Tuesday morning before the recovery of the American markets at the end of a long weekend and after the observation of an economic slowdown in China at the end of last year.
The CAC 40 star index was positioned slightly lower (-0.12%) at 7,034.99 points just before 11am. On Monday, the Parisian rating finished up (+0.28%) for the fourth consecutive time.
China’s economy grew 2.9% year-on-year in the fourth quarter of 2022, slowing from the 3.9% growth seen in the third quarter. Retail sales, the main indicator of household spending, decreased again in December (-1.8% in one year) and industrial production slowed down last month (+1.3% in one year).
“December’s Chinese statistics are above expectations but confirm a sharp deterioration in the economy, penalized by the health measures implemented for part of the month,” observes Christian Parisot, economist at broker Aurel BGC.
But, he assures, “the hope of a rapid economic rebound remains strong” with the lifting of health restrictions.
In Europe, investors seem more confident about the trajectory of the economy. They are waiting for the German ZEW barometer (January) which measures investor morale while the first European economy records an inflation rate of 7.9% for all of 2022, a historical record since the creation of the state after the Second World War.
In the Eurozone, thanks to the drop in energy tensions, “the probability of a recession seems to be decreasing day by day, something which cannot fail to be underlined by the officials” present at the World Economic Forum in Davos, notes Natixis Research IPC.
In the UK, unemployment held steady for a month at 3.7% at the end of November, but purchasing power continued to fall on inflation, fueling the country-shaking strikes announced on Tuesday. Office for National Statistics (ONS).
Investors are awaiting the release of results from US banks Morgan Stanley and Goldman Sachs before the opening of US markets which were closed for a three day long weekend.
The news moves the car
Nissan (+2.69% to 423.4 yen) and Renault (+0.36% to 37.45 euros around 10:25 in Paris) agreed overnight from Monday to Tuesday to restructure their alliance after months of negotiations, with formal announcements now expected in late January-early February.
The Renault brand also saw a 14.6% drop in sales in 2022, impacted by supply problems for electronic chips, an exit from the Russian market and a reorientation towards more profitable models.
The automotive giant Stellantis (-1.01% to 14.18 euros) announced on Tuesday its intention to supply geothermal energy to its Rüsselsheim plant in Germany, the historic headquarters of the Opel brand, to reduce the carbon footprint of car production.
Danone sets itself a goal of reducing methane
The agri-food giant announced on Tuesday that it intends to reduce by 30% by 2030, compared to 2020, the methane emissions linked to the breeding of the cows that supply its factories with fresh milk. The share fell by 0.91% to 49.69 euros.
ADP is approaching pre-Covid attendance
In 2022, Parisian airports welcomed more than double the number of passengers compared to the previous year, returning to 80.2% of their presence in 2019, before the health crisis. Aéroports de Paris (ADP) shares gained 1.74% to 137.15 euros at 10:30.
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