(News Bulletin 247) – The CAC 40 fell sharply at mid-session this Thursday, increases in bond rates weighing on risk appetite, as did the situation in the Middle East.

The demons that have agitated the market in recent sessions continue to rage. This Thursday, the CAC 40 dropped 0.5% to 6932.59 points, undermined by the rise in rates.

The yield on the 10-year American bond is fast approaching 5%, at 4.95% this Thursday, the highest since 2007. The French bond rate is at 3.560%, a level unpublished since 2009.

“In recent days, we have been treated to an avalanche of speeches from the Fed (Federal Reserve, Editor’s note) with governors like Christopher Waller, Michelle Bowman, Lisa Cook, Philip Jefferson, John Williams, president of the New York Fed, Patrick Harker, President of the Philadelphia Fed, who have all argued in favor of higher rates for longer and keeping rates at a restrictive level,” points out Michael Hewson of CMC Markets.

As such, Fed President Jerome Powell will speak at 6 p.m., these speeches always being well attended by investors.

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Pernod Ricard calm about its objectives

The latter continue to monitor the situation in the Middle East. Joe Biden on Wednesday renewed his support for Israel and exonerated it regarding the strike on the Ahli Arab hospital in Gaza which caused a wave of anger in the Middle East. After this event, Iranian President Ebrahim Raïssi accused the United States of being “accomplices in the crimes” of Israel, accused by Hamas of being the author of this strike against a hospital.

In terms of values, Renault is down (-6%) after delivering a turnover lower than expectations, which is very rare for the car manufacturer.

Edenred lost 4.4% while the group also delivered its third quarter activity.

Among the few stocks in the green, Pernod Ricard gained 4.4%, sending a positive signal for Rémy Cointreau (+4.3%) with the confirmation of its annual objectives, despite a drop in its revenues of 8 % over the first quarter of its staggered financial year.

On Wall Street, Netflix is ​​preparing to open sharply (+13% pre-opening) after having garnered an impressive number of new subscribers in the third quarter. The same will not be said of Tesla, expected to fall by 5.4% after publishing disappointing quarterly accounts.

On other markets, the euro gained 0.1% to 1.0554 dollars. Oil prices are losing ground due to profit taking. The December contract on North Sea Brent fell 1.4% to $90.22 per barrel, while the November contract on WTI listed in New York lost 1.15% to $87.30 per barrel.