Paris (AFP)

The Paris Stock Exchange remained under tension on Wednesday (-4.30%), unable to mark a lasting rebound in the face of grim economic statistics and the uncertainties surrounding the evolution of the Covid-19 epidemic.

The CAC 40 index fell 188.88 points to 4,207.24 points, in a sustained trade volume of 4.5 billion euros. The day before, it had finished a modest increase of 0.40%.

"We have no reason to set out again on the long term before being certain (...) as for an exit of this confinement which puts a total stop to our economic activity", analyzed with AFP Michaël Jacoby, Head of Continental Europe Brokerage at Oddo Securities.

"We are in a phase of stock exchange" very short-termist according to him, "with micro-rebounds, but the general trend remains completely negative".

Since the pandemic began in December in China, more than 865,000 cases have been officially declared worldwide, more than half of them in Europe, 189,000 in the United States and more than 110,000 in Asia.

"The handover between the first and second quarter promises to be difficult after the dark words of Donald Trump on the situation to be expected in the next two weeks in the United States," said in a note Tangi Le Liboux, a strategist from the broker Aurel BGC.

The United States risks becoming the new epicenter of the coronavirus pandemic described by the UN as the worst crisis that humanity has faced since 1945. President Trump asked his fellow citizens to prepare, as did from Europe, to "very, very painful" weeks.

A total of 4,076 deaths were recorded in the United States on Wednesday, a figure doubled in three days, according to the American University Johns Hopkins, whose assessments are authoritative.

The wave of unemployment linked to the new coronavirus has also started to spread to the United States, where private companies cut 27,000 jobs in March.

- The dark automobile -

Also penalized by the pandemic, activity in the manufacturing sector in the United States contracted in March, after two months of growth.

Same atmosphere within the euro zone where the unemployment rate reached in February its lowest level since the financial crisis, but should increase sharply in March because of the coronavirus.

The French car market sank 72.2% in March and is expected to decline by 20% over the year.

In China, on the other hand, manufacturing activity experienced an unexpected rebound in March after a historic low in February, according to an independent index.

- Aeronautics in free fall -

All of the companies making up the CAC 40 fell, with the exception of Vivendi (+ 2.07% to 19.93 euros).

The aeronautical sector once again found itself at the forefront of the economic crisis caused by the coronavirus epidemic: Safran plunged from 16.45% to 66.96 euros and Airbus from 12.03% to 52.20 euros .

The automobile also suffered, Renault losing 7.88% to 16.31 euros and Peugeot 6.49% to 11.38 euros. PSA (Peugeot, Citroën, DS, Opel) saw its registrations of new passenger cars plummet (-73.4%) in March, as did the Renault group (-71.6%), with Dacia and Alpine.

Faurecia sank 6.26% to 25.59 euros, Valeo 7.21% to 14.15 euros and Plastic Omnium 4.88% to 12.19 euros. Michelin dropped 1.51% to 79.84 euros.

© 2020 AFP