Paris: mitigates its losses, very low trading volumes – 06/10/2022 at 17:25
(CercleFinance.com) – The Paris Bourse reduced its losses a little (from -1.1% to 0.8% at 5,940) 30 minutes from the close, in anemic volumes since it barely traded 1.5 MdE in 8H on the 40 stars of the CAC.
European markets and Wall Street are on the same wavelength with -0.6% (uniformly) on the Euro-Stoxx50, the Dow Jones and the Nasdaq.
The markets were penalized on Wednesday by better than expected macroeconomic data in the United States (ADP employment report, ISM non-manufacturing index), likely to comfort the Fed in the ongoing tightening of its monetary policy.
Small flat, this Thursday, with jobless claims which increased by almost +30,000 in the United States last week, to 219,000 against 190,000 (revised from 193,000) the previous week, well beyond the 203,000 anticipated.
The number of beneficiaries regularly receiving benefits increased to 1,361 million against 1,346 million the previous week.
The markets are especially struggling to digest the decision of ‘OPEC +’ which announced that it would cut its production by 2 million barrels per day, its largest reduction since 2020, despite pressure from the United States to continue to pump oil in order to ease supply tensions, ”recalls Wells Fargo.
The price of a barrel rose further in London and New York with +0.5% to $94.2 on ‘Brent’ and +0.4% to $88.5 on ‘WTI’ (note that reserves of crude oil and fuel oil in the United States hit a new historic low while inventories were at a ten-year high at the end of June 2020.
In today’s statistics, the seasonally adjusted retail sales volume fell by 0.3% in the euro area and by 0.2% in the EU, compared to July 2022, according to estimates. Eurostat, the statistical office of the European Union.
Bond markets continue to correct and yields are up +7pts on OATs towards 2.695%, on Bunds towards 2.09% and also +7pts on US T-Bonds towards 3.8300%.
In the news of values, Eramet collapses by -20% below 70E while the sector of mining stocks is weighed down by the publication of studies predicting difficult times for the sector in a context of decline, with prices of l energy remaining relatively high (high mineral processing costs).
Colas Rail, a subsidiary of Bouygues, announces that it has finalized the acquisition of the German family group Hasselmann, which specializes in the construction of railway tracks and railway infrastructure.
As part of the implementation of its share buyback program, Engie has assigned an investment services provider the task of assisting it in the acquisition of a maximum number of 17 million ‘Shares.
Airbus expects the services market to return to pre-pandemic levels in 2023 and double in value over the next 20 years, from $95 billion today to over $230 billion in 2041, according to its report. latest Global Services Forecast (GSF).
EDF announces the success of its multi-tranche senior bond issue, including a green one, for a nominal amount of three billion euros, an operation whose settlement-delivery will take place on October 12. These securities will be admitted to trading on Euronext Paris.
Finally, Groupe Renault indicates that it is betting on France with the development of its activity on the national territory in the continuity of the commitments of the three-year social agreement “Re-Nouveau France 2025”.
The Group has thus already made nearly 1,000 hires in France since the start of 2022, out of the 2,500 made over the period of the 2022-2024 agreement.