Posted January 2, 2023, 8:32 amUpdated January 2, 2023 at 9:32 am
The Paris Stock Exchange is heading towards a hesitant opening for its first session of 2023 which promises to be calm due to the closure of the Chinese, Japanese, British and American markets. The year 2022 closed with a 9.5% drop in the Cac 40, the worst performance since 2018.
The least we can say is that 2023 looks like a new year at risk. The IMF managing director also warned about the economic outlook. Kristalina Georgieva warned on CBS Sunday’s Face the Nation that 2023 will be tougher than 2022 while the United States, Europe and China record a slowdown” simultaneous “, adding that a third of the world economy will be in recession, and in particular half of the countries of the European Union.
Towards a lowering of the IMF forecasts?
The IMF lowered its forecast for the global economy in October and Kristalina Georgieva’s comments suggest the institution may revise them lower soon. The IMF usually publishes its new projections at the Economic Forum in Davos, Switzerland, which takes place from 16 to 20 January.
In China, Xi Jinping announced yesterday in his New Year message that many challenges remain in the fight against Covid-19, and that this fight is entering a new phase by adopting a scientific and targeted approach. China’s healthcare system appears to be overwhelmed by the upsurge in Covid-19 cases. If Beijing manages to weather the storm in the coming months, this could bode well for the rest of the year, but past experience suggests the path to lifting all Covid restrictions is bumpy warns Craig Erlam, market analyst at Oanda.
The country’s economic activity also slowed in December to its slowest pace since 2020, hit hard by the abandonment of the zero Covid policy. The official PMI manufacturing index fell to 47 points, against 48 in November and that of services to 41.6, after 46.7.
Airbus interested in Evidian
Investors will watch the S&P Global Manufacturing PMI for the month of December for the eurozone in the morning. The macroeconomic agenda will expand from Wednesday with the minutes of the US Federal Reserve’s Monetary Policy Committee meeting for December, ahead of Friday’s release of December’s US jobs report.
Airbus is considering a minority stake in the capital of Evidian, the digital and cybersecurity arm of Atoswhich the IT services group will subdivide, the newspaper reports The echoes citing sources familiar with the matter.