The Paris Exchange changed little on Thursday (-0.09%), with uncertainties surrounding the development of the health situation and the risk of inflation prompting investors to be cautious.
After two bullish sessions, the CAC 40 index fell 6.34 points to 7,008.23 points, down 0.72% from a day earlier.
“We have seen a resurgence of volatility in recent sessions, which testifies to investor panic,” said AFP Guillaume Garabedian, head of advisory management at Meeschaert Gestion Privée.
This panic is particularly linked to the precarious health situation since the appearance of the new Omicron version of the coronavirus in late November.
“Despite the reassuring news on Omicron, there is still some doubt about the future of the health situation”, underscoring Mr Garabedian, recalling that some European countries have had to take on new restrictions.
In the United Kingdom, in particular, Prime Minister Boris Johnson on Wednesday evening announced a tightening of restrictions to contain the spread of the new version, including a return to telework.
Investors are also concerned about inflation levels in the United States, raising fears that the US Federal Reserve’s (Fed) monetary policy will tighten faster than expected.
“Markets have risen recently as investors remain confident that the Fed will maintain a lenient monetary policy,” Garabedian said.
But “if inflation is talked about and it seems to central bankers that it is catching on, it would involve the risk of tightening monetary policy.”
That’s why investors await the publication of inflation data for the United States in November on Friday, to try to uncover clues on the future of the Fed’s monetary policy, pending its next meeting. , scheduled for 14 and 15 December.
In this context, Thursday’s publication of new weekly jobless claims in the United States, which fell to its lowest level since September 1969, was withdrawn into the background.
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