2023-08-25 07:39:08
The Paris Stock Exchange is moving around equilibrium in the first exchanges on Friday (+0.02%), in a weekend marked by the speeches of central bankers in Jackson Hole (United States), starting Jerome Powell , the US Federal Reserve.
The flagship CAC 40 index advanced by 1.34 points to 7,215.80 points shortly around 9:20 a.m. and following opening slightly lower. Thursday, it had fallen by 0.44%.
Over the week, marked by a marked easing of interest rates and by the confirmation of the weakness of economic activity in August, it rose by 0.77%.
Investors are now waiting for central bankers to speak at their annual meeting in Jackson Hole (United States). Jerome Powell of the US Federal Reserve (Fed) will speak at approximately 4 p.m.
In practice, the meeting must be interested in “structural changes in the world economy”, according to its displayed theme, but for the experts, any indication on the evolution of monetary policy will be particularly scrutinized.
“The message on data dependency at the last monetary policy committee meeting was clear, and it’s too early to abandon that approach,” Deutsche Bank analysts said.
For them, “it will be interesting to see if we get more information on Powell’s views on inflation, and if he sticks to the idea that returning inflation to its target level will require economic weakness, including through higher unemployment.”
Since March 2022, the institution has increased its rates eleven times, to take them from a level close to zero to a range between 5.25% and 5.50%.
On the bond market, the interest rate on the French 10-year loan fluctuated around 3.06%, once morest 3.03% the day before, still far from its levels at the start of the week, above 3.20. %.
Good publicity for JCDecaux
The French display giant JCDecaux rose 3.50% to 16.86 euros following the improvement of the recommendation of analysts at Deutsche Bank on the title, going from “keep” to “buy”.
“The opportunity to buy JCDecaux, a high-quality name in the media sector, arises when cyclical concerns intensify. We believe this is the case now” they explain, also mentioning the additional income which might come from the Olympic Games in Paris in 2024.
Over the year, the stock fell by 4.75%.
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