The Paris Bourse is expected to open again lower on Wednesday, unable to rebound after two sessions of decline while figures on the economy in China were weaker than expected.
The futures contract of the flagship CAC 40 index was down 0.22% forty minutes before the opening of the session. The day before, it had fallen by 0.36%.
Tuesday’s slight slowdown in inflation in the United States was not enough on Tuesday to stop the consolidation movement on the American markets, which ended down: Dow Jones dropped 0.84%, the Nasdaq index at strong technology component, 0.45% and the extended S&P 500 index, 0.57%.
The news from Asia that arrived overnight is no more encouraging for investors: retail sales in China saw their weakest gain in a year in August, rising 2.5% as analysts expected a rate of 7%.
The poor performance of the month of August for consumption is “the consequence of the epidemic rebound” in China, which “weighs on consumer confidence”, commented for AFP analyst Rajiv Biswas, of the firm IHS Markit.
For its part, industrial production was posted in August up 5.3% over one year, but this rate is also lower than the previous month (6.4%). During the session, investors will take note of the figures for industrial production in the euro zone and the United States.
The markets lack a clear direction and will not have one in the absence of “visibility about the monetary policy that the US Federal Reserve could follow” in a week, notes Christopher Dembik, director of strategy and macroeconomics of Saxo Bank.
The institution must specify next week the date of the start of the decline in market support via asset buybacks, a policy that has contributed to the rebound of the markets for a year and a half.
“Given the growing economic and financial risks, we believe that the American market will lack momentum in the short term to go much higher. This will obviously have an impact on the dynamics on the Paris Bourse”, continues M Dembik.
Among the indicators scrutinized, inflation jumped to 3.2% in the United Kingdom, a sharp increase from 2% in July.
Among the values to follow on Wednesday
The French company Carmat announced on Tuesday that its artificial heart had been implanted in six patients since July in Germany and Italy, operations that have allowed it to generate its first two million euros in turnover since its launch in 2008.