(News Bulletin 247) – The Paris Stock Exchange continues its decline and is now heading towards 7,200 points, penalized by the decline in luxury values, its flagship sector. Investors are also cautious before the publication of a battery of indicators in the United States and interventions by Fed officials.

The start of the week is complicated on the Paris Stock Exchange. The flagship Parisian index conceded ground this Tuesday, and lost 0.54% to 7,225 points. The day before, the CAC 40 had already lost 0.37% after a day lacking in news.

Investors are showing their caution while several statistics are on the agenda this Tuesday. Operators learned this morning of an improvement in household confidence in France to 87 points in November, while in Germany, although increasing, this same indicator remains in negative territory at -27.8 points for the month. of December, after -28.1 points the previous month.

The agenda will also be provided on the other side of the Atlantic with consumer confidence in the United States for the month of November or the Case Shiller house price index for the month of September.

Several important statistics will follow on the inflation front this week. Germany on Wednesday, then France and the euro zone on Thursday will publish the first estimate of inflation for the month of November. In the United States, the PCE index, the preferred gauge of the American Federal Reserve (Fed), will also be published on Thursday.

This data on the direction of prices will be valuable before the next meetings – and the last in 2023 – of central banks. The Fed will deliver its verdict on its key rates on December 13, before the European Central Bank the next day. .

Beforehand, operators will be attentive to the speeches of several influential members of the American Federal Reserve this Tuesday before that of its president, Jerome Powell who is due to speak on Friday. On Monday, the President of the ECB, Christine Lagarde indicated that this was not the “time to start declaring victory” in the face of inflation, during a speech before the Economic and Monetary Affairs Committee of the European Parliament .

Ubisoft in difficulty

On the value front, luxury weighs on the Parisian trend. Kering returns 2.8%, LVMH loses more than 2.6% while Hermès limits its decline to 1.6%.

In a note devoted to the sector and published this Tuesday, the HSBC bank reported a certain caution for next year. Entitled “Goodbye stellar growth”, the establishment explains that it expects growth of 8% for all luxury goods next year, after 35% in 2021, 15% in 2022. and 11% in 2023.

Ubisoft lost nearly 9% while the group controlled by the Guillemot family issued bonds convertible or exchangeable into new or existing shares amounting to 495 million euros. The market welcomes the operation since it involves potential dilution for shareholders.

Atos continues its decline and loses 5.3% after S&P lowered its credit rating to “BB-“. The group declared for its part that it had “the necessary liquidity to meet its financial obligations over the next twelve months”.

On the exchange side, the euro is stable against the dollar at 1.0957 dollars. On the oil price front, it is recovering and gaining more than 1% ahead of the next OPEC+ meeting, scheduled for Thursday. Markets are counting on further production cuts. The January contract on North Sea Brent therefore gained 1% to $80.69 per barrel while that of the same maturity on WTI listed in New York increased by 1.1% to $75.68 per barrel.