The Paris Bourse ended Thursday in the red (-0.65%), investors digesting several indicators of both sides of the Atlantic on safety background on the eve of the speech of the president of the Fed.
The CAC 40 index lost 28.86 points 4406.61 points in a trade volume of 1.93 billion euros. The day before, the Paris market was up 0.32%.
Among the other European markets, London was down 0.28%, Frankfurt yielding 0.88%. Furthermore, the Eurostoxx 50 dropped 0.69%.
Investors had their eyes turned towards Jackson Hole in Wyoming, where begins the annual meeting of central bankers, including the highlight will be the intervention of the president of the Federal Reserve, Janet Yellen on Friday .
“His speech is the main event of the week, so it’s normal that there is hesitation and caution on the market in the meantime,” told AFP Andrea Tueni, Saxo Bank analyst.
Investors hope detect in what Ms. Yellen elements in the path of US interest rates in the coming months, according to recent words taken from Fed members suggesting that was time to normalize US monetary policy.
in addition, the market also suffered from lackluster figures in Germany. In Germany, the morale of entrepreneurs has saved effect a larger decline than expected in August.
“The market was a bit surprised by this poor indicator of the European locomotive, which weighed on the trend, “said Andrea Tueni.
Third disruptive element oscillating oil prices between recovery and decline due to uncertainty in extinguishing the offering in the United States and the organization of petroleum exporting countries (OPEC).
Apart from the barometer of business confidence in Germany, the day was rich in indicators. The United States posted a slight decline surprise of weekly jobless claims, while durable goods orders in July rebounded more than expected.
In France, the business environment remained almost stable August at a level slightly above its long term average, despite a decline in the industry.
As for values, Renault was down 1.27% to 72.28 euros. The Environment Minister, Segolene Royal, yesterday denied press reports of omissions in the report of the Commission of Inquiry on pollutant emissions from diesel engines in order to protect the French car manufacturer.
other securities industry, dependent market movements, finished trolling the image of Valeo (-2.12% to 45.50 euros), Peugeot (-2.09% at 13 36 euros) and Michelin (-1.18% to 94.71 euros).
the values related to raw materials sector have also stalled, as Vallourec (-4.04% to 4, 16 euros), Total (-0.36% to 42.58 euros), CGG (-2.92% to 22.57 euros) or Technip (-0.89% to 52.49 euros).
the French retailer Etam lost 5.28% to 31.23 euros after the first half recorded a decrease of 20.23% in net profit, mainly because of a slowdown in activity.
the treatment of the manufacturer against allergies Stallergenes Greer finished in the red (-0.68% to 24.80 euros) after having widened its losses in the first half, weighed down by production problems encountered by his factory Antony (Hauts-de-Seine).
the listing of Maurel & Prom oil company was suspended Thursday at noon at his request. Indonesia’s Pertamina Group completed the acquisition of nearly 25% of the French oil tanker, the first step before launching a takeover bid for the redemption of all of its capital, the two groups announced in a statement.
mlm / emi / dax
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