The Paris Stock Exchange ends up sharply, supported by the banks – Actu Orange

AFP, published on Friday September 9, 2022 at 6:52 p.m. The Paris Stock Exchange ended up sharply on Friday, supported by the banking sector which is benefiting from the rate hike decided the day before by the European Central Bank (ECB). After a gloomy start to the week , the Parisian rating gained 1.41% to 6,212.33 points and signed a weekly increase of 0.73%. The session was marked by “a theme of technical rebound after a few days of weaknesses and doubts” but “in a context of very sluggish trading volume”, depicts Mikaël Jacoby, head of continental Europe brokerage for Oddo, interviewed by AFP. “There were no big surprises with regard to the rise in rates” of the ECB, which put an end to questions on Thursday by raising its key rates by 75 basis points, an unprecedented scale to fight against inflation, even if it means taking the risk of plunging the euro zone into recession. In the United States, the Federal Reserve gradually raising its rates since the month of March to slow down demand, and thus ease the pressure on prices. On Friday, one of the governors of the American central bank (Fed) Christopher Waller said he anticipated raising interest rates at least until the beginning of 2023. “The markets are at a crossroads. There is a lot of wait and see “in view of the third quarter results which will provide information on the state of health of companies, and in view of new economic data in a context of energy crisis and high inflation, adds the expert. They are also awaiting the indicator consumer price index (CPI) for August in the United States which will be published on Tuesday to find out if the ebb of inflation in July is confirmed and if the inflationary spiral is under control. In many respects, the situation is still uncertain on the evolution of the war in Ukraine and the impact of tighter monetary conditions on growth.”The macroeconomic environment has deteriorated, with geopolitical tensions, supply disruptions, u soaring energy prices and the tightening of monetary policies by central banks. These are all factors that have reduced the global outlook (…)”, underlines Alain Guélennoc, chairman of the executive board of Federal Finance Gestion. the ECB’s decision to raise the rate on bank deposits at the ECB to 0.75%.Société Générale took 2.88% to 23.74 euros, BNP Paribas 2.61% to 48.68 euros, and Crédit Agricole 2.31% to 9.43 euros. Euronext CAC40