The Paris Bourse ended down Thursday (-1.33%) in the wake of the Fed meeting, depressed by a misguided banking sector in the wake of Milan instead.
The CAC 40 index lost 58.20 points 4322.16 points in a trade volume fed 4.2 billion. The day before he had gained 1.05%.
The Paris market had opened lower before edging back up the hill. But she could not stay focused, emulating end of the session the Milan Stock Exchange, which fell under the weight of banks.
“This is the Italian banking sector, which is the object of concern Investor “on the Paris market, analysis Frederic Rozier, management consultant at Meeschaert Private Banking.
M. Rozier observes “a contagion effect on the whole industry”, affecting healthy banks, “well capitalized,” he said, in a context marked by “a structural problem of the Italian banking system, a burst sector, which needs focus “.
The Milan Stock Exchange ended sharply falling (-3.49%) under the weight of the banking sector, some titles have suffered at the Banco Popolare di Milano image or the bank BMPS (Banca Monte dei Paschi di Siena).
This decline took place two days after the signing of an agreement between Rome and the European Commission regarding the management of bad debts which the Italian banks weaken and slow the recovery in Italy.
In this atmosphere full of nervousness, “the positive point is the support provided by the stabilization of oil prices,” notes Mr. Rozier.
The price of black gold went back, helped by hopes of an agreement between Russia and the Organization of Petroleum Exporting Countries (OPEC) to reduce production and rebalance the market.
Finally, the market did not seem concerned about the meeting of the US Federal Reserve (Fed) yesterday deemed unconvincing.
At its meeting ended on Wednesday after the European close, the Fed left interest rates unchanged six weeks after a first officially recorded increase, noting that economic growth in the US slowed at the end of last year, that inflation would remain “low” in the short term and the need to monitor “economic and financial developments” in the world .
In the field of indicators, the rise in consumer prices in Germany accelerated in January, with inflation of 0.5% year on year, according to a provisional figure.
In the US, the weekly jobless claims fell more than expected while durable goods orders fell sharply in December.
Among the values, the securities of the banking sector pulled the Paris market Down at the Societe Generale (-3.27% to 34.21 euros), BNP Paribas (-2.93% to 42.86 euros) or Credit Agricole (-2.74% to 8 , 93 euros).
EDF took 1.23% to 11.89 euros and Areva jumped 31.23% to 5.00 euros. The market welcomed the announcement of a massive recapitalization of EUR 5 billion of the agreement with Areva and EDF on the sale of its reactors branch.
Oil stocks benefited as for them to the lull in oil prices. Technip gained 6.15% to 43.23 euros and CGG 6.67% to 0.80 euros.
Altran lost 3.83% to 11.30 euros. The company released sales unsurprisingly, up 10.7% despite management problems in Germany have sealed the results in the Northern Europe region.
PSA Peugeot Citroen fell 2.37% to 13.80 euros after formalized its long-awaited return to Iran, with a joint venture that will invest 400 million euros over five years.
AS / fpo / aro
1/28/2016 6:14:46 p.m. – Paris, January 28, 2016 (AFP) – AFP © 2016
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