Published on : 29/06/2022 – 14:34Modified : 29/06/2022 – 14:32
Paris (AFP) – The Paris Stock Exchange was down 0.68% in the first exchanges on Wednesday, again becoming anxious about the pace of economic activity in the world.
The star CAC 40 index fell 41.11 points to 6,044.91 points around 9:30 a.m., after falling more than 1% at the very start of the session. The day before, it had increased by 0.64%.
The Parisian rating is weighed down by the sharp decline in the American markets on Tuesday, depressed by consumer confidence at its lowest since February 2021, and even since 2013 for the assessment of the future economy.
With household consumption being the main driver of Western economies, investors fear the effect on growth.
“The speed and scale of the decline in household confidence, even though the job markets are still solid, makes us fear a very marked slowdown in the coming months”, writes Xavier Chapard, from the Banque Postale. AM. “While these surveys are not infallible in predicting the economic cycle, they are perhaps the best leading indicators we have,” he argues.
Especially since economic activity is already under pressure from the policies of central banks to fight against inflation and the increases in key interest rates in progress and to come.
On Wednesday, investors await new interventions from central bankers, including the President of the European Central Bank Christine Lagarde and that of the US Federal Reserve Jerome Powell.
In Spain, inflation stood at 10.2% year on year in June, according to data published on Wednesday, still surprising analysts on the rise. The figure for Germany is also expected during the day, before that of the United States on Thursday (PCE indicator).
A new Chairman for the EssilorLuxoticca Board
Francesco Milleri, already managing director of the optical group, was appointed chairman of the board of directors on Tuesday, to replace the group’s historic boss, Leonardo Del Vecchio, who died on Monday. The title fell 2.04% to 141.30 euros, and for the time being achieved the worst weekly performance of the CAC 40 index.
Ipsen advances on palovarotene
The Ipsen laboratory has announced that the American health authorities (FDA) have granted priority review to the application for approval of the experimental drug palovarotene, a molecule in the development phase to treat a rare bone disease, progressive fibrodysplasia ossificans (FOP). . The title remained stable (+0.06% to 85.35 euros).
On the CAC 40, Sanofi took 1.00% to 100.36 euros.
The energy still in support
Oil-related stocks such as TotalEnergies (+1.50% to 51.43 euros) or CGG (+0.97% to 0.90 euros) were up, as was the energy company EDF (+0.69% to 8.20 euro).
© 2022 AFP