The CAC 40 index grabbed 28.50 points to 7,101.35 points after a start of the session around balance. On Tuesday, the index lost 0.70%, closing at its lowest level since the March 2023 banking crisis.
The New York Stock Exchange ended sharply lower on Tuesday, the three main indexes having lost more than 1% on the session, guided by a movement of risk aversion related to the accumulation of dark clouds on the global economy, high bond yields to oil prices.
The interest rate on French 10-year debt also set a new record since January 2012, at 3.37%. Wednesday around 10:00, it stood at 3.34%.
It is the prospect of high interest rates for a long time, a scenario evoked by central banks last week, that has exacerbated tensions in the bond market since the beginning of last week.
"Stocks and bonds are falling and the price of oil is rising, things can't get any worse," said Jochen Stanzl, an analyst at CMC Markets. "The stagflation scenario is becoming more and more likely."
In France, household morale deteriorated slightly in September, as they were less optimistic about their financial situation, their standard of living and the evolution of unemployment, INSEE said Wednesday.
The French government will present its draft budget for 2024 on Wednesday, in which it plans to generate 16 billion euros in savings.
Voltalia causes an electroshock
French renewable energy producer Voltalia fell 17.57% to 10.70 euros after lowering its normative EBITDA forecast (profit before taxes, adjusted for currency effects and short-term variations in production) for 2023, which goes from "between 275 and 300 million euros" to "about 275 million euros".
The company also said in a statement to widen its loss to 19.4 million euros in the first half, against 4.6 million euros in the same period of 2022.
Capgemini in supply chains
The Swiss transport and logistics group Kuehne+Nagel is joining forces with France's Capgemini (+1.04% to 165.75 euros) in a partnership to find solutions to improve supply chains, they announced on Wednesday.
© 2023 AFP