(News Bulletin 247) – The Paris Stock Exchange is taking a breath after its recent peaks, while the latest American statistics call for a drop in rates. The CAC 40 closed down 0.16% at 7,571.40 points this Thursday evening.

The Parisian market is officially taking a breath this Thursday, after two sessions of slight increases. Down 0.6% at mid-session, the CAC 40 limited its damage at the close (-0.16%) to end its run at 7,571.40 points after the publication of numerous statistics in the United States showing some cracks in the robustness of the global economy.

American growth turned out to be less intense than expected in the third quarter, with gross domestic product increasing by 4.9% at an annualized rate. This figure was revised down from the previous estimate, which showed growth of 5.2%.

Still on the economic activity front, the Philly Fed index, which measures economic activity in the Philadelphia region, fell more than expected, to -10.5 against a consensus of -3 and after -5 .9 in November. On the job market side, weekly unemployment registrations increased by 3,000 units to 205,000 last week. But it’s still 10,000 less than consensus expectations.

These degraded indicators therefore fuel hopes for future key rate reductions from major central banks, including in particular the American Federal Reserve (Fed).

“Macroeconomic data is mixed and suggests weaker economic activity,” said Peter Cardillo, chief economist at Spartan Capital Securities, quoted by Reuters.

“In fact, futures now price a 92% chance of a cut by March, as well as cuts of 152 basis points (1.52%, Editor’s note) in total by the December meeting 2024,” notes Deutsche Bank.

In this regard, operators will be attentive to the PCE inflation index on Friday, especially since this indicator is the Fed’s preferred measure for assessing price developments.

Getlink stopped

On the value side, Sanofi lost a little ground (-0.2%) after announcing the cessation of the development of a potential treatment for lung cancer.

Conversely, Teleperformance recorded the largest increase in the CAC 40, with an increase of 4%, while Royal Bank of Canada reiterated its advice of “outperformance” on the value.

Getlink lost 2.3% at the close, as the Channel Tunnel operator faces an unexpected strike which has led it to suspend its service until further notice and close its terminals in France and the Kingdom. -United. This weighed on his title this Thursday afternoon.

On other markets, the euro rose 0.4% against the dollar to $1.099. Oil is losing ground. The February contract on North Sea Brent lost 1.2% to $78.76 per barrel while that of the same maturity on WTI listed in New York also fell by 1.2% to $73.33 per barrel. . Note that Angola has decided to slam the door of OPEC amid disagreements over oil quotas.