2023-09-27 08:57:27
The Paris Stock Exchange rebounded slightly by 0.39% on Wednesday, following four sessions of decline recorded in the wake of the rise in interest rates to levels not seen in more than ten years.
The CAC 40 index gained 28.50 points to 7,101.35 points following the start of the session around balance. On Tuesday, the index lost 0.70%, closing at its lowest level since the March 2023 banking crisis.
The New York Stock Exchange ended sharply lower on Tuesday, the three main indices having lost more than 1% over the session, guided by a movement of risk aversion linked to the accumulation of dark clouds over the global economy, rates bonds high at oil prices.
The interest rate on the 10-year French debt also set a new record since January 2012, at 3.37%. On Wednesday around 10:00 a.m., it stood at 3.34%.
It is the prospect of high interest rates for a long time, a scenario mentioned by central banks last week, which has exacerbated tensions on the bond market since the start of last week.
“Stocks and bonds are falling and the price of oil is rising, things can’t be worse,” says Jochen Stanzl, analyst at CMC Markets. “The stagflation scenario is becoming more and more likely.”
In France, household morale deteriorated slightly in September, with households showing less optimism regarding their financial situation, their standard of living and the evolution of unemployment, INSEE indicated on Wednesday.
The French government will present its draft budget for 2024 on Wednesday, in which it plans to make 16 billion euros in savings.
Voltalia causes an electroshock
The French renewable energy producer Voltalia fell 17.57% to 10.70 euros following lowering its normative Ebitda forecast (profit before taxes, adjusted for currency effects and short-term variations in production) for 2023, which goes from “between 275 and 300 million euros” to “around 275 million euros”.
The company also indicated in a press release widening its loss to 19.4 million euros in the first half, compared to 4.6 million euros in the same period of 2022.
Capgemini in supply chains
The Swiss transport and logistics group Kuehne+Nagel is joining forces with the French Capgemini (+1.04% to 165.75 euros) as part of a partnership to find solutions aimed at improving supply chains, announce -they Wednesday.
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