(CercleFinance.com) – Wall Street weakens a bit at mid-session and the bias shifts from slightly bullish to neutral with a Dow Jones and S & P500 at + 0.1% and Nasdaq at -0.3%.
The CAC40 (-1.32% at 5.037) failed this time to preserve the 5.505 at the close when this threshold had been well defended both intraday and at the close since July 15.
Instead of seeing the buyers mobilize on the finish, the sellers kept control, for a second consecutive close at the low of the day, which had not happened since July 8 and 9 or June 26.
Few numbers (and no ‘macro statistics’) to chew on this Wednesday: U.S. commercial oil inventories have risen by about + 4.9 million barrels, according to data released by the EIA (Energy Information Administration) taking the opposite view of the consensus which forecast a drop of around -2.1 million barrels … but without consequences for the price of a barrel, almost stable at $ 44 in London, slightly down 0.4% to $ 41.75 on NYMEX.
The CAC40 is dragged down by the automotive sector, the SBF120 sees Faurecia drop -3% and Valeo -5%.
The Euro-Stoxx50 fell by -1% to 3.370 as the situation continues to tense between Washington and Beijing (annoying closure of the Chinese consulate in Houston).
The ‘fact of the day’ is probably the sudden surge of the Euro (+ 0.6%) against the Dollar with a 24 hour delay (compared to the agreement on the European support plan) towards 1.1590.
Precious metals are also shining with silver at + 7% towards $ 23 and gold breaks a new annual record at $ 1,870 (+ 1.5%) and is heading straight towards a retracement of $ 1,920 (its historic high late summer 2011).
No major data is expected today in Europe or the United States, although operators will learn of a new round of quarterly accounts, including those of Tesla and Microsoft tonight.
In the news of values, Valeo (-5%) fell to -8% following the publication of a loss of -1.21 billion euros and a fall of -28% in its turnover.
Accor (-4.4%) lost all of its gains from the previous day and remains vulnerable
APRR’s consolidated turnover excluding Construction stood at 934.3 million euros in the first half of 2020, down -25.3% compared to the first half of 2019. Total traffic, measured in number of kilometers traveled, recorded a decrease of -30.6% in the first half of 2020. Light vehicle traffic decreased by -34% over the half-year, while heavy vehicle traffic fell by -14.1%.
Vente-unique.com posted revenue for its third quarter, which covers both periods of containment linked to the pandemic and deconfinement, of 31.9 million euros, up 45% year-on-year .
Analyst Berenberg announced this Wednesday to revise downwards its price target and its recommendation on the title of the Axa group. From buying, the broker switches to ‘Keep’, and from 22.60 euros, its target falls to 21.80 euros.
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