(BFM Bourse) – The Parisian index suffered another session of decline, weakened by the political risk in France, and the latest announcements from Donald Trump relating to an increase in customs duties. The CAC 40 lost 0.72% this Wednesday evening to get a little closer to the floor of 7,100 points.
Another session of decline on the Paris Stock Exchange, undermined by political risk in France after having been weakened the day before by Donald Trump's offensive on his trade policy.
French assets are not popular with investors, the latter fearing government censorship on the 2025 Budget vote.
The banking sector was at the forefront of these fears: Axa returned 4.3%, Société Générale lost 3.5%, Crédit Agricole 1.3% and BNP Paribas 1.2%.
Finally, the CAC 40 lost 0.72% to end its run at 7,143.03 points on Wednesday evening, after having lost more than 1.4% at lunchtime.
Rain of statistics before Thanksgiving
The Parisian index managed to limit its decline, after having digested a copious statistical menu in the United States. Several important macroeconomic indicators were on the program for this Wednesday, before the traditional closing of Wall Street for Thanksgiving on Thursday and a shortened session on Friday.
The day's delivery was rather in line with expectations, enough to bring “relief” to investors, notes Bret Kenwell, American markets analyst for eToro, with American GDP for the third quarter and a PCE inflation index which n 'have no big surprises in store'.
The US Federal Reserve's preferred inflation gauge accelerated slightly to 2.3% year-on-year in October, and 2.8% for its non-food and energy component, in line with market expectations.
As for traditional weekly registrations, the publication of which was brought forward by one day due to Thanksgiving, they fell to 213,000 applications, when third quarter GDP growth was confirmed at 2.8%.
Operators assign a probability close to 70% to a Fed rate cut of 0.25 percentage points next month.
On the value side, Teleperformance contained its decline to 2.1%, with the market having difficulty welcoming the acquisition of the American company ZP Better Together, a specialist in linguistic solutions and technological platforms intended for deaf and hard of hearing people.
Aramis grew by 3.9%, the specialist in the sale of used and reconditioned vehicles announced that it had returned to profit in 2023-2024 and presented a strategic plan for 2027.
On the foreign exchange market, the euro gained 0.3% against the greenback at 1.0552 dollars. On the oil side, the January contract on Brent from the North Sea lost 0.3% to 72.13 dollars per barrel while that of the same maturity on WTI listed in New York fell by 0.2% to 68 .63 dollars per barrel.
Sabrina Sadgui – ©2024 BFM Bourse
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