The CAC 40 index ended at 5,882.65 points, its lowest closing level since March 2021. Since Monday, its weekly loss amounts to 4.92%, its worst week since the Russian invasion of Ukraine. end of February.
Industrial production slowed more than expected in May in the United States and manufacturing production even contracted.
"These figures in the United States show the beginning of a slowdown", underlines Frédéric Rozier, portfolio manager at Mirabaud France, and come in a context where more and more experts are counting on a recession of the world's largest economy next year. next.
“We also had indications from the distribution sector of a change in American consumption”, due to inflation, adds Frédéric Rozier.
These figures caused oil prices to fall by about 5%, very sensitive to economic growth forecasts, which dragged oil stocks into the movement.
TotalEnergies lost lost 5.06% to 49.34 euros.
For the Mirabaud analyst, the question that now arises is "whether the Federal Reserve needs to go so far in this context", concerning the tightening of its monetary policy.
The American Central Bank announced on Wednesday a higher than expected increase in its key rates.
In general, most central banks, with the exception of Japan's, have been raising their key interest rates in recent weeks in order to slow inflation, which has led the markets to fear that this shift in monetary policy will lead to a recession.
As for other securities, EssilorLuxottica, which announced the launch of a share buyback program that will be allocated or sold to employees and corporate officers of the group and affiliated companies, stood out by jumping 3.80% at 139.25 euros.
Airbus and Air India, now in the hands of Tata Group, are close to finalizing a huge order, according to financial agency Bloomberg which has seen a letter from the airline asking its pilots to prepare for training on A350s.
The European aircraft manufacturer took 1.20% to 94.12 euros.
© 2022 AFP