(BFM Stock Exchange) – This article, with free access, is produced by the research team in BFM Stock Exchange analysis and market strategy. To not miss any opportunity, consult all of the analyzes and discover our portfolios by accessing our privilege space.
The CAC 40 experienced a relatively volatile session on Wednesday, for an almost equilibrium fence (+0.15%), always at the heart of a large tidy (Lateral navigation band) on the eve of the conclusions of the Fed Governors’ Council and the day after the appointment of Sébastien Lecornu, Minister of the resigning armies, in Matignon.
It is obvious that “President Lagarde will be particularly requested on the question of France, even if it does not seem necessary to take emergency measures, the Spreads continuing to behave well. She declared earlier this week:” Any risk of falling from a government of the euro zone is a source of concern. “, However, there is no tangible sign of a tightening of the financial conditions via the sovereign spreats that Extraordinary, “recalls Geoff Yu, senior Emea Market Strategist at BNY.
Because this is the main issue of this council of governors who will end, except huge surprise, by a status quo on pan -European rates.
“Nevertheless, current developments will not be favorable to the growth or optimism of investors, which should affect the data of the fourth quarter. We therefore expect a new drop this year and that tolerance in the face of the current vigor of the euro is put to the test.”
An appointment tomorrow will be scrutinized: the publication by the Fitch agency of the sovereign note of France.
Raphaël Thuin, Director of capital market strategies at Tikehau Capital, warns: “The risk for France would consist of navigating the duration between political immobility and slow degradation of its economic fundamentals. If no brutal shock is expected in the short term, the accumulation of uncertainties could, in the medium term, weigh on its growth and its credibility. A stable government-as well as the patience of investors with regard to negative dynamics that erude the country’s credibility. “
On the statistical front, the American production prices for the month of August constituted the statistical meeting of the day. And against all expectations, the production price index (PPI) fell 0.1% while the consensus awaited an increase of 0.3%. They had increased by 0.7% in July.
On the values ​​side, it was the defense sector that stood out after Poland said it has killed “hostile objects” in its airspace during a Russian attack. Strong increase in CAC 40 at the fence, Thales won 3%. On the SBF 120, it is exoseens who finished the race in the lead (+8.2%). The title of the specialist in military optronics is followed by Alstom which jumped 6.8% after the announcement of a major contract in the United States. On the side of small and medium capitalizations, the generative AI specialist Lighton fell 12.5% ​​after declaring that it would be difficult for him to achieve his activity objective for the 2025 financial year.
On the other side of the Atlantic, the main shares on shares finished in dispersed order a session marked by the oracle outbreak (+35.95%). The Dow Jones lost 0.48% when the Nasdaq Composite finished in balance. The S & P500, reference barometer of appetite for the risk in the eyes of fund managers, nibbled 0.30% to 6,532 points.
A point on the other asset classes at risk: around 8:00 am this morning on the exchange market, the single currency was treated at a level close to $ 1,1690. The barrel of WTI, one of the barometers of appetite for the risk on the financial markets, was exchanged around $ 63.40. THE Treasuries 10 Yearsyield of federal sovereign bonds due to 10 years, was negotiated slightly above 4.05%. As for the Vix, it was worth 15.35 at the last fence of the S&P500.
At the macroeconomic agenda this Wednesday, to follow in priority consumer prices (ICC) in the United States at 2:30 p.m.
Key graphics elements
The vast tidy (lateral canal), whose amplitude was once again redefined on July 31 and August 1, retains meaning, and the discharge of courses on Monday August 25, in contact with the high terminal confirms it. The 7,500 points are reinforced in their support role as much as the 7,940 points are in their role of resistance. They are therefore intervention areas to favor, in this clearly bipolarized market. A very technical market, which offers readable opportunities provided you remain yourself, as an investor, waterproof to ambient nervousness.
FORECAST
In view of the key graphic factors that we have identified, our opinion is neutral on the CAC 40 index in the short term.
We will take care to note that a crossing of the 7940.00 points would revive the tension to the purchase. While a break in the 7682.00 points would relaunch the selling pressure.
The News Bulletin 247 Council
Hourly data graphics
Daily data graphics
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
