(CercleFinance.com) – The Paris stock market ends the day’s session with a gain of 0.74%, to 6,837 points, after being heavily unbalanced at the opening of Wall Street, when the US indices fell from the first trades.
If the Parisian index was able to regain altitude at the end of the day, the New York indices are still in turmoil: the Dow Jones yields 1.4%, the S&P 500 loses 2.2% while the Nasdaq sinks 3%.
For its part, the Euro-Stoxx50 recorded a gain of 0.9%.
Investors were able to take note of the Conference Board’s American consumer confidence index: this deteriorated in January, to 113.8 against 115.2 for December 2021 (revised from 115.8 in initial estimate) .
In detail, while the present situation component improved month on month, rising from 144.8 to 148.2, this improvement was more than offset by a decline in the expectations component, which from 95.4 to 90.8.
The fear of an acceleration of inflation and monetary tightening is at the heart of the correction observed on the markets since the beginning of the year, first on the bond compartment then on equities.
After two days of debate, the Federal Reserve Monetary Policy Committee (FOMC) is expected to leave interest rates unchanged tomorrow.
However, central bank chairman Jerome Powell’s press conference could provide investors with some interesting clues regarding the expected path of rate hikes.
The press release that the central bank will publish tomorrow could provide investors with valuable indications as to the timetable envisaged for its monetary tightening and provide them with welcome visibility.
On the bond market, the yields of government bonds experienced only a brief episode of relaxation the day before, that of 10-year Treasuries stabilizing around 1.75% after 1.79% after 1.7100% Monday afternoon, our OATs tightened by +1Pts towards 0.3200%.
In the news of the tricolor values, after having lost 16.1% yesterday, Orpea yields again 20.3% today after the publication in Le Monde of the good leaves of a book-investigation devoted to the company. Management may reject the accusations en bloc, but the evidence seems quite solid in the eyes of investors: the stock has lost more than 40% since January 17 (in 6 sessions) and is at its lowest level since early January 2015 (around 50E ).
The fear that the book in question will lead to new complaints for shortcomings in terms of hygiene and care and an investigation into the use of state subsidies in nursing homes (which benefit from public subsidies, in addition to copious rents paid by residents) maintains pressure on prices…including those of Korian (-4.5%).
LNA health (+1%) is the only one to escape the purge on Tuesday.
Havas, a subsidiary of Vivendi, announced this morning the acquisition of the Parisian communication agency Raison de Santé with a view to strengthening its position in the French health market.
Interparfums posted revenue of 560.8 million euros for the 2021 financial year, up 52.7% compared to the previous year and 15.8% compared to 2019, despite the tensions in the supply chain in the second half.
Finally, TechnipFMC announces that it has been awarded a major subsea engineering, procurement, construction and installation contract by Petrobras for its Búzios 6 field (module 7), a new development in the pre-salt zone in Brazil. .
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