(Circlefinance.com) – The Paris Stock Exchange gives 0.6% to 7,275 points, the ‘CAC40 April’ contract ‘fall of -10% to close this deadline started on March 20 (despite’ a weekly gain of +2.5%).
The CAC40 is penalized today by Saint-Gobain and Airbus (-2.85%) and Hermès (-3%).
In our neighbors, the scores are quite comparable and the Euro -Stoxx50 which gives up -0.7% fell from -9.3 to -9.4% to the term stock market that expired this afternoon (for the CAC40 it was at 4 p.m.).
The opening of Wall Street is done in dispersed order with -1% on the Dow Jones, +0.5% on the ‘S&P’ and +0.2% on the Nasdaq.
The rise in tensions between Washington and Beijing continues to remove investors from risky assets, as illustrated by the heavy relapse of Wall Street last night following the announcement by Donald Trump from the addition of a 100% surcharge targeting Chinese imports.
The American president announced yesterday an information sheet declaring that China would now face customs duties up to 245% on imports to the United States.
Beijing was quick to reply to the American decision by demonstrating its intention to respond with ‘resolved’ countermeasures, while believing that the figures mentioned by the White House had no more economic meaning ‘.
‘China does not wish to hire commercial wars, but we do not fear them either,’ said a spokesperson for the Chinese Foreign Ministry.
The American markets have accused the blow, but the blow of grace was brought down by the Fed which places the fight against inflation at the top of its priorities.
The message is clear for Wall Street: no relaxation of imminent rates and the ‘put Fed’ has disappeared … in the middle of a monetary storm (the dollar under 1.14/E is now straightening from +0.3% to 1.1365/e).
The accumulation of tensions on t-bonds, the decline in the dollar make the ounce of gold flambé which reaches $ 3,333, or 100,000th ‘all round’ for the 1st time in history.
Jerome Powell, the president of the Fed, said yesterday that the American central bank should be ready to fight higher inflation, arising from the increase in customs duties at unforeseen levels.
‘Both global inflation and underlying inflation have slowed down in March, “he explains, also stressing that growth prospects have deteriorated due to the intensification of trade tensions.
The Fed describes in hollow the scenario of a ‘stagflation’ which would constitute the worst economic equation from the point of view of Wall Street.
All this information should encourage investors to be cautious before the long Easter weekend, who will see European markets remain closed until Tuesday morning.
The ‘highlight’ of the day was the press conference of Christine Lagarde: it confirms that the BCE Governors’ Council announces that it has decided to lower 25 points of basis its interest rates of the ease of deposit, the main refinancing operations and the ease of marginal loan, at 2.25%, 2.40% and 2.65% respectively.
-There was also an agenda loaded level ‘stats’ in the United States with to start a cold stroke in the real estate sector: the Commerce Department reported a fall of 11.4% of housing starts in the United States in March compared to the previous month, to establish itself at 1,324,000 in CVS data.
The building permits of American housing – this prefiguring the future starts – however, increased slightly last month, by 1.6% to 1,482,000, while housing completions fell 2.1% to 1,549,000.
The ‘Philly Fed’ index fell by 39 points to reach -26.4 this month, a lower since April 2023, a decline much higher than expectations since the economists interviewed provided an average of a decline around +10 of the activity in the northeast of the United States in April (area including Pennsylvania and new Jersey).
This level of -26.4 had not been reached for 2 years, shows Thursday the monthly economic situation in the Philadelphia Federal Reserve.
The sub -index measuring the evolution of new orders received by companies collapsed at -34.2, a floor since April 2020, against +8.7 last month.
The survey, on the other hand, shows a continuation of the accentuation of inflationary pressures, the price index paid having gone from 48.3 to 51 this month, a peak since July 2022.
The employment sub-index came out around zero, indicating an absence of change.
Employment still with new registrations for unemployment benefits in the United States The week of April 7, the Labor Department announces that it has registered -9,000 registrations, at 215,000.
The mobile average over four weeks – more representative of the background trend – was 220,750, down 2500 compared to that of the previous week.
T-bonds react little and ’10 years’ takes +1pt symbolic at 4.289%.
In Europe, the decrease in day’s rate promotes a small relaxation of the bunds of -3.7pts to 2.465%, our OAT erase -3.5pts to 3.2300%, Italian constructions -5pts at 3.643%.
The oil prices take advantage of the recent access to the dollar weakness to progress: the Brent resumes 0.6% at 66.5 dollars per barrel and the light American crude (West Texas Intermediate, WTI) earns more than 1.2% beyond $ 63.2.
In the news of the tricolor companies, Pernod Ricard has a turnover of 2.28 billion euros for his third accounting quarter, down 3% in organic as in published, a cumulative at the end of March of 8.45 billion, down 4% in organic and 5% published.
IPSOS indicates that it has achieved a turnover of 568.5 million euros in the first quarter of 2025, up 2% thanks to favorable perimeter and exchange effects which more than compensated for a 1.8% contraction in organic.
Hermès International unveils a turnover of 4.13 billion euros for the first quarter of 2025, up 8.5% in total data and 7.2% at constant exchange rates, all regions growing up.
Finally, Capgemini announced Thursday the acquisition of the Dutch subsidiary of British FinTech Delta Capita in order to expand its offer in terms of financial crime in Europe.
