The star CAC 40 index fell 14.51 points to 7,324.76 points, after a session spent almost all the time in the red.

On Tuesday, it had fallen by 0.46%.

Few new elements came to decorate the session on the macroeconomic level.

The President of the European Central Bank, Christine Lagarde, promised to do "whatever it takes" to restore price stability, during a symposium at the World Trade Organization in Geneva.

His statement is in the same vein as the latest speeches by other central bankers, including that of Fed Chairman Jerome Powell on Tuesday before the US Congress.

Faced with the prospect of larger and more sustainable increases in key interest rates, the main tool of central banks to fight inflation, investors had suffered the blow, with a fall in equities and an increase in interest rates Kings.

On Wednesday, Mr. Powell took advantage of the second part of his speech before the American Congress to specify that “no decision has been made”.

Investors are now awaiting US employment figures, with the official report for February due out on Friday.

Further signs of labor shortages, which could lead to higher wages and inflation, would support monetary tightening.

But "the fairly satisfactory economic climate" in Europe allows the indices to hold, mentioned Harry Wolhandler, director of equity management at Amilton AM.

Industrial production in Germany rebounded in January suggesting that German activity could escape recession.

On the bond side, investors were able to breathe a little: rates eased like that of the French 10-year loan, which fell from 3.23% Monday at the close to 3.14% Wednesday.

Casino stock loses big

Casino shares fell 7.99% to 8.76 euros, after the announcement on Tuesday of the study of a new disposal project to "accelerate its debt reduction", a few days before the publication of its annual results. .

JP Morgan bank also downgraded its assessment of the company from neutral to underweight.

According to them, "Casino could raise enough money to repay its principal debt maturities in 2024, but not enough to cover maturities beyond that date."

The action is heading back to its October lows, at 7.58 euros per share.

Eurazeo reassures

The investment company Eurazeo announced a 2022 net profit down 62% over one year, a performance better than expected by analysts and to be put into perspective as the year 2021 was atypical.

The action gained 5.37% to 69.60 euros.

© 2023 AFP