The Paris Bourse rose modestly (+ 0.11%) on Wednesday at midday, against a background of stabilizing European bond yields after an intervention by Fed President Jerome Powell who was reassuring about the risk of inflation.
After a slight downturn, the CAC 40 index took 6.61 points to 5,786.45 points around 12:13 p.m. (11:13 GMT), the day after an increase of 0.22%.
A small upside opening was looming on Wall Street, according to futures contracts on major US indices.
"After Christine Lagarde Monday, Jerome Powell also distilled a message of caution yesterday during his hearing in the Senate, which made it possible to limit the rise in sovereign rates yesterday in the United States as well as in Europe", indicates Philippe Cohen, Deputy Director of Kiplink Finance.
"The president of the Fed highlighted the way still to go on the recovery of the labor market (including in terms of inequalities) and his willingness to look through a rise in inflation deemed unsustainable at this stage, "he continues.
Words that temporarily calmed the markets on Tuesday, allowing US indices to rebound from their lows and soaring bond yields to slow, even if the excitement remained palpable on both sides of the Atlantic.
The sharp rise in yields on the bond market is a sign of the anticipation of a clear upturn in inflation and growth, especially in the United States, and therefore of a long-term halt in monetary policies. accommodating.
Jerome Powell reassured in the short term but the markets will not give their blank check to the Fed. Even if the American central bankers are not worried about inflation and assure that a possible surge will be temporary , investors could show lasting greater nervousness, ”notes Tangi Le Liboux, a strategist for broker Aurel BGC.
So they should pay the greatest attention this Wednesday to the comments of several members of the American Central Bank, starting with those of its president, heard this time before the House of Representatives.
As for indicators, German growth for the fourth quarter was revised upwards to + 0.3%, while the business climate deteriorated slightly in February in France.
January sales of new homes in the United States are also on the agenda.
Fnac Darty breaks the ceiling
The distribution group further increased its earnings, jumping 11.17% to 52.45 after reporting a "solid" financial situation in 2020 despite the pandemic, which will allow it to pay a dividend to its shareholders.
Accor well oriented
The French hotel giant raised the bar (+ 1.14% to 34.57 euros) despite a net loss of close to 2 billion euros last year, and an activity having fallen by 60% due to the health crisis which caused its establishments to close or idle.
Worldline confident for 2021
Worldline, however, fell 1.00% to 73.54 euros.
The electronic payments group said on Wednesday it was "very satisfied" with its year 2020 despite a 4.6% drop in activity, and hopes to resume growth in 2021 following the integration of its competitor Ingenico.
© 2021 AFP