Published on : 21/09/2022 – 18:54Modified : 21/09/2022 – 18:52
Paris (AFP) – The Paris Stock Exchange rebounded 0.87% on Wednesday, after having fallen significantly in recent sessions, anticipating a sharp rise in rates by the American central bank, the Fed, the extent of which will be announced at 6:00 p.m. GMT.
After a start to the session in decline, the benchmark CAC 40 index ended up 51.86 points at 6,031.33 points, ending a series of six consecutive sessions of decline.
All eyes are on Washington, where the meeting of the Federal Reserve’s monetary policy committee is underway and should conclude with a further rise in its key rates, the fifth in a row since March.
The director of macroeconomics research at Saxo Bank Christopher Dembik is betting on a rise of 75 basis points. “The Fed is not used to surprising the markets, several articles and speeches lean towards an increase of 75 basis points and not 100”, as a minority of analysts anticipates.
Some fears related to the war in Ukraine were reignited after President Vladimir Putin announced on Wednesday the mobilization of hundreds of thousands of Russians to fight in Ukraine, warning the West that Moscow would use “all means” to defend itself.
The impact on energy prices remains limited for the time being, but the dollar, a safe haven, has strengthened and reached a 20-year high against a basket of other currencies.
Values related to travel suffered losses: Aéroports de Paris lost 2.39% to 126.40 euros, Air France-KLM 1.95% to 1.41 euro, Accor 4.20% to 23.29 euros and Pierre et Vacances 6.52% to 0.86 euro.
TotalEnergies does its math
TotalEnergies “should pay 30 billion dollars in taxes and duties on production in the world” in 2022, announced Wednesday the CEO of the French group Patrick Pouyanné, during a hearing at the National Assembly on the “superprofits” of oil or gas companies. The title gained 1.55% to 48.93 euros.
© 2022 AFP