The Paris Bourse should remain on its guard after Wall Street’s pullback as the market tries to assess the implications of Jerome Powell’s re-appointment as head of the US Federal Reserve. Investors are also awaiting the first indicators concerning the economic situation in the private sector in Europe and the United States for the current month.

In New York, the S&P 500 and the Nasdaq Composite lost ground on Monday after initially reacting positively to Jerome Powell’s confirmation as Fed chairman. Joe Biden has opted for continuity by associating him with Lael Brainard, known to be accommodating, as vice-president of the institution.

Jerome Powell’s confirmation suggests that the monetary policy of the US central bank is unlikely to experience any major change in terms of the appreciation of economic indicators, the asset purchase program and the outlook for rate hikes. which would not necessarily have been the case with the appointment of Lael Brainard.

Wall Street is counting on an acceleration in the pace of the reduction in central bank asset purchases and anticipates three rate hikes starting next June in an attempt to curb inflationary pressures as many observers believe that the Fed is lagging behind the yield curve and the transitory nature of inflation. The yield on the US 10-year bond edged up 1 basis point to 1.6392%.

Stocks have seen turbulence in recent sessions with the spread of coronavirus contaminations in Europe, which have been accompanied by tightening of health restrictions in several countries, dampening hopes of an acceleration in the economic recovery. Austria imposed a three-week general lockdown starting Monday, November 22, while Germany tightened travel restrictions. These decisions tend to avoid containment measures during the holidays, which would inevitably have an impact on public morale and on the economy during this period of high commercial activity.

It is in this context that the IHS Markit institute will unveil at 10 a.m. its activity indices in the manufacturing and services sectors for the month of November in the euro zone, before unveiling these same indicators this afternoon. for the United States.

Trigano posted sharply higher results for its 2020-2021 fiscal year ended at the end of August, but warned that component shortages would hamper production in the first six months of the new fiscal year.

Bureau Veritas announced that it was the subject of a cyber attack detected on Saturday. “In response, all of the group’s cybersecurity procedures were immediately activated,” the group said. “As a preventive measure, the decision was taken to temporarily put our servers and our data offline, in order to protect our customers and the company, while further investigations and corrective measures are underway,” he said. added.

Teleperformance. Standard & Poor’s (S&P) on Monday raised the credit rating of the outsourced services specialist from “BBB-” to “BBB”, giving it a stable outlook.

Among the analysts’ notes, Societe Generale noted its recommendations on Klépierre, Gecina and Carmila to “sell” to “keep”, and moved to “buy” on Icade.

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Ref: https://investir.lesechos.fr