(News Bulletin 247) – The Parisian index lost ground in mid-session, while exports from China contracted more than expected in May. The market also continues to wonder about the next meetings of the major central banks.

The relays to justify a rebound of the Paris Stock Exchange are missing. The CAC 40 thus conceded ground on Wednesday, losing 0.5% to 7173.28 points at mid-session on Wednesday, weighed down by disappointing data on Chinese foreign trade.

In May, exports from the world’s second largest economy plunged 7.5%, a much steeper drop than the 1.8% decline economists had anticipated, according to a consensus quoted by Deutsche Bank.

“The trade numbers reinforce the idea that China’s GDP is facing a sequential slowdown. But, on a positive note, these numbers argue for more broad-based monetary stimulus,” SPI’s Stephen Innes analysis. Asset Management.

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Uncertain markets

The markets must also dissect a slew of economic indicators including German industrial production, which rose 0.3% in April against 0.6% expected by economists polled by Reuters.

The club of rich countries, the OECD, has slightly revised its growth estimates for the euro zone to 0.9% for 2023 against 0.8% previously, and to 1.6% for the United States, against 1 .5% previously.

Investors also continue to ponder the outcome of the major central bank meetings to be held next week, namely those of the European Central Bank (ECB) and the US Federal Reserve (Fed).

“Markets are uncertain ahead of next week’s Fed and ECB meetings, especially after Australia’s central bank hiked rates again yesterday after previously announcing a pause,” Xavier said. Chapard, of La Banque Postale Asset Management.

Teleperformance is picking up the slack

As for values, Teleperformance is gaining a little ground (+1.8%), while Royal Bank of Canada has certainly slashed its price target on the title, but has also confirmed its opinion of outperformance. In summary, the Canadian bank considers that the market’s fears about the emergence of generational AI which would break the group’s activity are exaggerated.

Atos for its part yields 0.7% after taking around 3% at the start of the session. The digital services company has revised upwards its medium-term ambitions for its historical businesses.

As for small caps, Keyrus takes off from 55% to get closer to the draft simplified takeover bid announced on Tuesday and which offers a price of 7 euros per share.

Up 15%, Theranexus has obtained the green light from the European Medicines Agency for its phase 3 clinical study evaluating its potential treatment for Batten disease.

On the other markets, the euro is stable against the dollar at 1.0699 dollars. Oil prices are moving up a bit. The North Sea Brent contract for August delivery is up 0.5% at $76.69 a barrel, while the July contract on New York-listed WTI is also up 0.5% at $72.13 a barrel. barrel.