2023-06-01 08:14:10
The star CAC 40 index gained 0.59%, or 41.88 points, to 7,139.39 points around 9:50 a.m., following having marked a sharp decline of 1.54% the day before.
The Paris Stock Exchange is starting June on a high note, following ending May with a monthly loss of 5.24%, its first decline since the start of the year, but also the worst since September 2022.
Investors have been sensitive in recent days to the tensions surrounding a possible default on US debt.
The text must now be adopted by the Senate, which should decide quickly.
The Fed still under scrutiny
Investors’ attention will once more be caught by the United States, following comments from representatives of the American central bank (Fed).
On Wednesday, Fed Governor Philip Jefferson and Philadelphia Branch Chairman Patrick Harker both publicly expressed support for a monetary status quo following the next meeting on June 13-14.
However, the US Department of Labor’s JOLTS report released data showing that the demand for workers remains strong. In detail, 10.1 million jobs were vacant in April, ie 358,000 more than in March and this is much more than the 9.5 million expected by economists.
Ahead of the Fed’s Monetary Committee (FOMC) meeting in June, the institution “will likely have to deal with higher inflation, more robust domestic demand dynamics and a tighter labor market. expected at the May meeting,” Barclays analysts said.
“The FOMC consensus will not view monetary policy as tight enough,” which might prompt the Fed to head for a rate hike once more.
Inflation in the euro zone expected
Inflation and unemployment figures for the euro zone are due at 11:00 a.m. The manufacturing PMI for France will be published at 9:50 a.m.
After weaker than expected inflation figures in France, Germany and Italy, “this trend might well be repeated in the European Union figures for May”, said Michael Hewson of CMC Markets.
Safran spice up its relations with Air Liquide
Safran (+1.08% to 136.90 euros around 9:55 a.m.) entered into “exclusive negotiations” with Air Liquide to acquire its oxygen generation activities on board aircraft, an operation which should enable it to strengthen its position in the military segment, the aeronautical equipment manufacturer announced on Thursday.
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