Gloomy atmosphere at the Paris Bourse. On Wednesday, the benchmark index in Paris ended sharply down 0.88% to 3837.98 points. Either in the 3850 points, a significant technical threshold, which has not happened since March 18 last. Even bad mood: the London Stock Exchange was down 0.95% at 5808.89 points while in Frankfurt the Dax loose 0.61% to 7060.23 points.
On Tuesday, the benchmark index beyond the Paris Bourse had managed to achieve a small rebound. But since the Fed has made comments that disturb operators, already worried by the weak U.S. economy. In a televised speech in Atlanta, its chairman Ben Bernanke said that economic growth across the Atlantic remained "desperately slow" and that it required the maintenance of a "monetary policy complacency."He said that "growth should recover somewhat in the second half, but remain generally moderate. Delivered just before the close of U.S. markets, the speech was the turning Wall Street into the red. And this morning, Asian stock markets also reacted negatively.
Furthermore, growth of the emerging world should rise from 7.3% in 2010 "to about 6.3% annually from 2011-2013," considers the Bank's global economic forecast published in Washington.
French record trade deficit
In this gloomy atmosphere, the markets will monitor several indicators, mainly European.
– In France, the trade deficit set a record high in April to 7.14 billion euros, against 5.91 billion in March, seasonally adjusted data, the Customs said Wednesday.Moreover, the deficit of state budget stood at 61.4 billion euros in late April against 56.2 billion a year earlier, according to data released Wednesday by the Budget Ministry.
– In Germany, exports fell 5.5% in April on a month and imports by 2.5% over the same period, according to preliminary data adjusted for seasonal and calendar published Wednesday by the Federal Statistics Office . Other bad news, industrial production in Germany fell 0.6% in April on a month, its first decline since December, after rising 1.2% in March, said Wednesday the Department of Economics.
– Economic growth of countries in the euro area was well brought up to 0.8% in the first quarter from the previous quarter, Eurostat said.In one year, growth was also confirmed at 2.5%.
– U.S. stocks of crude oil dropped ten times more than expected last week in the U.S., but gasoline inventories rose sharply, according to figures released Wednesday by the U.S. Department of Energy. Then 20 hours, the Fed will deliver the findings of its Beige Book.
Side currency, the euro lost ground against the dollar Wednesday after being around $ 1.47 the day before. To 17 hours in Paris, the single European currency traded at 1.4575 dollars against 1.4688 dollars late Tuesday. Oil prices were, themselves, without direction in electronic trading in Asia in anticipation of an OPEC meeting in Vienna in the day that might decide to increase production.A barrel of light sweet crude for July delivery took 7 cents 99.16 dollars while that of Brent North Sea crude for delivery same retreated 48 cents to 116.30 dollars.
Banks still abused
No value of the CAC 40 is in the green at closing. On the SBF 120, Groupe Eurotunnel rises of 0.88%. The operator of the Channel Tunnel has won the tender launched by the great seaport of Bordeaux to determine the particular conditions of access to the network of railways, said on Tuesday a statement from the group.Saft rises of 0.80%, HSBC rose to overweight on the title.
Back on the Cac 40, Alcatel-Lucent shows the largest decrease: -3.26% to 3.65 euros.
Sanofi Aventis, valued for his defensive forward timidly from 0.17% to 52.33 euros.
Banks are generally downward: Natixis (-2.07% to 3.50 euros), Societe Generale (-1.39% to 39.79 euros) and BNP Paribas (-0.82% to 52.21 euros ) undergo further profit taking.
PPR: -1.67% to 115.15 euros
The group announced it is extending its takeover offer for the American Volcom until June 16
Hermes: +0.08% to 187.80 euros, LVMH: -1.11% to 116.30 euros
The group returns to its highest in October 2010 and outperformed the other lasting values of luxury in favor of speculation about a takeover at the end of the saddle by LVMH, which already owns more than 20% of a group supported by sustained growth .
Schneider Electric: -1.34% to 110.70 euros
The authority of U.S. markets, the SEC filed a complaint for insider trading around the offer of French Schneider Electric on the Spanish Telvent. According to a warning issued Tuesday on the website of the SEC, this crime would have allowed the authors to make a profit of about $ 475,000 in total through the sale of option contracts Telvent acquired before the announcement of massive Schneider's offer.
Renault: -2.20% to 36.72 euros
The decision of the Court of Appeal of Versailles on the possible recognition as an occupational accident suicide in February 2007, Raymond D, employee Technocentre Renault in Guyancourt (Yvelines), is expected Thursday.The suicide of Raymond D was the third employee of the Technocentre in the space of four months between late 2006 and early 2007.
Belvedere: stable at 61.48 euros
After the decision of the Court of Appeal of Dijon, on Tuesday to confirm the cancellation of the safeguard procedure, the band announced that it "remains open to an agreement with its main creditors in the run to finish with a conflict that has lasted too long. "
BioAlliance: + 1.78% to 6.30 euros
The group wants to create a commercial structure for selling online in Europe's orphan drugs in oncology while pursuing its strategy of licensing agreements for its specialty products.
NYSE Euronext: -0.54% to 24.06 euros
NYSE and Deutsche Börse have announced a special dividend of 2 euros per share for shareholders of the combined group
GDF Suez: -0.49% to 24.43 euros
Group CEO, Gerard Mestrallet, warned Tuesday against Montreal seduction exerted excessive public opinion renewables, noting in particular the high cost of wind power."These are intermittent energy sources that will require large reserve capacity, which will be based on natural gas because of the ease of use of gas turbines," he told the International Economic Forum of the Americas.
Total: -0.20% to 38.21 euros
The U.S. manufacturer SunPower solar panels, partial target of a takeover of French Total, raised its forecast Tuesday quarterly revenue but warned that its margins could suffer from falling prices.
Next recommendation, after Exane BNP Paris yesterday, Credit Suisse rose to "outperform" on the title Michelin (-0.14% to 63.70 euros).
Please note that Air France-KLM will unveil its traffic in May after-hours trading. Valeo and Sopra hold their general meetings and Gifi publish the results of its second quarter after market close.