(AOF) – European equity markets fell sharply, weakened by a Fed more determined than ever to curb inflation. While it unsurprisingly raised its main base rate by 75 basis points last night to bring the range to 3%-3.25%, investors were negatively surprised by the aggressive nature of the new projections (dot plots). for Fed Funds rates. The rise in long rates penalized growth stocks. The CAC 40 index closed down 1.87% at 5,918.50 points and the EuroStoxx50 lost 1.79% at 3,429.31 points.
and Europe, Novartis fell almost 1% to 75.05 Swiss francs. Investors do not seem convinced for the time being by the new strategy of the pharmaceutical laboratory presented this morning. The Basel giant intends to become a “pure player” in medical innovation, ie new prescription treatments. It also intends to strengthen its presence in the United States where it intends to become one of the top five laboratories by 2027. Novartis also intends to be in the “top 3” of pharmaceutical groups in China while maintaining leading positions. in Germany and Japan.
In Paris, the title M6 rebounded (+6.37% to 13.35 euros) after being heckled in recent days following the aborted merger project with TF1. RTL Group, which owns 48.26% of M6, would seek to quickly separate from its stake in the French group. According to the Financial Times, Bertelsmann has asked to receive indicative offers by Friday. “We” are testing the market. It is on the basis of this test that we will decide whether to sell or not”, confirmed to the financial daily Thomas Rabe, the managing director of Bertelsmann.
Veolia fell 1.06% to 21.37 euros. The world leader in environmental services has finally sold its British waste activities to Suez for two billion pounds, or around 2.3 billion euros. Veolia had planned to sell this branch, named Suez Recycling and Recovery UK to the Australian Macquarie, but Suez exercised its right of first refusal obtained during its merger with Veolia, thus pre-empting the sale. This transfer was required by the British competition authority (CMA) for the latter to validate the merger.
The macroeconomic figures of the day
In September, the business climate in France darkens again, reveals INSEE. The indicator that summarizes it, calculated from the responses of business leaders in the main market sectors, lost two points, as expected by economists. At 102, it nevertheless remains slightly above its long-term average (100). All major sectors of activity contributed to this deterioration, with the exception of construction.
In the United States, the index of leading indicators for August fell by 0.3% against -0.5% (corrected from -0.4%) in July. Analysts were expecting -0.1%.
In the United States, 213,000 new weekly jobless claims were recorded. Economists had forecast 218,000 after 208,000 (revised from 213,000) the previous week.
Around 5:30 p.m., the euro lost 0.15% to 0.9827 dollars.
Sales of existing homes amounted to 4.8 million in August on an annual basis in the United States, compared with a consensus of 4.7 million. They had risen to 4.82 million in July, a revised figure of 4.81 million.
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