Economy

The Paris Stock Exchange fell by 0.30% Thursday morning, stuck between announcements from the American central bank which were not appreciated by investors and the upcoming meeting of the European central bank.

The star CAC 40 index fell by 19.93 points to 7,308.60 points around 9:50 a.m. Since the start of the week, the Parisian rating has risen each day by around 0.5%, showing confidence before the announcements of the American Federal Reserve (Fed).

The monetary institution decided on Thursday not to raise its key rates, for the first time since March 2022 and following ten consecutive increases, and is giving itself a little more time to observe the evolution of economic activity.

But given inflation that is still high – 4% over one year in May in the United States – Fed Chairman Jerome Powell warned that “virtually all of the participants (at the meeting, editor’s note) see it as likely the fact that further rate hikes will be needed this year to bring inflation down to 2%”.

The majority of Fed officials see rates rising to 5.50-5.75%, which would imply two rate hikes of 0.25 percentage points in the coming months. However, the markets were expecting at most an increase of 0.25 points in July.

The prospect of further increases plunged the New York Stock Exchange, which turned red following the publication of the Fed statement, and closed in scattered order on Wednesday evening.

Investors’ attention is now turning to the European Central Bank, which is holding a meeting on Thursday.

A 0.25 point rise in ECB rates is expected by market observers.

“The most important question will be what the ECB will indicate next, and whether it will align with market expectations which foresee only one more increase following today’s”, underline the analysts of Deutsche Bank.

Moreover, new disappointing economic indicators have been published in China.

New player at the Casino table

The Casino group, in great financial difficulty, announced on Wednesday evening that it had been informed that one of its shareholders, the financier Marc Ladreit de Lacharrière (Fimalac), was studying “a possible participation” of up to 150 million euros in the project. capital increase by Czech billionaire Daniel Kretinsky.

Casino shares fell 8.22% to 7.37 euros, the day following a jump of more than 20% following the proposal by the Niel-Pigasse-Zouari trio to invest one billion euros to raise capital.

The Rallye title also fell around 9:40 a.m. from 14.86% to 2.21 euros following an increase of nearly 40% on Wednesday.

M6 shares the victory

France Télévisions and M6 (-0.15% to 13.23 euros) announced on Wednesday the joint purchase of the rights to the 2023 Women’s World Cup, for which they will share the broadcast of the matches in the clear this summer.

The official banks are currently communicating with customers through the mobile phone numbers of these customers who wrote them down when opening the bank account or through e-mail, before suspending the bank accounts of those customers who do not use the bank account, whether in withdrawing and depositing it or any banking operations. This account is what made the banks suspend these accounts to the banks to reactivate them.

Banks decide to stop stagnant bank accounts

The official banks communicate with customers through their personal phones or e-mails that they left when opening the bank account, in order to reactivate their dormant bank accounts. It is necessary to go to the nearest branch of the bank in which the account was opened, following exposing these accounts. For temporary suspension, these accounts are defined as having not conducted any of the following transactions on them: withdrawal, deposit, or transfer, in order to avoid permanent suspension of the account. The stagnant account is defined as the bank account, the balance of which is certified and whose balance is zero.

The importance of bank accounts

In light of the current terrible technological development, you cannot dispense with your bank account under any circumstances, as banks have become an important and indivisible part of life, and therefore the bank account must be preserved following it has been temporarily suspended, so you must go to the nearest branch until the account is reactivated once more to use in Deposit or any other operations.