The decline in the Paris stock market is becoming more pronounced: the Paris index is now down 1.2% at around 7,100 points, in a negative spiral that is taking it further and further away from the 7,500-point level reached at the end of July.

The downturn in the Paris market is linked both to questions about the Fed's monetary policy, which are pushing up bond yields, and to growing fears about the health of the Chinese economy.

The latest setback is that Chinese property giant Evergrande, which is in poor financial health, reportedly filed for bankruptcy in the United States yesterday.

At the same time, the correction in long-term yields continues in the wake of the Fed's "minutes", which highlighted the central bank's concerns about persistent inflation.

Against this backdrop, 10-year government bond yields remain at their highest level ever, at 4.27% for US Treasuries, 2.63% for German Bunds and 3.17% for French OATs.

Investors should take cautious positions ahead of next week's central bankers' meeting in Jackson Hole.

In French stock news, Valeo announced the signature of an agreement to sell all the production assets of its Russian transmission systems business to NPK Avtopribor, as part of its decision to withdraw from production activities in that country.

On Friday, Spie announced that it had acquired 75.1% of BridgingIT in order to accelerate its development in digital transformation services in Germany.

Finally, Visiomed Groupe announced the suspension of its listing following a press release issued by its subsidiary BewellConnect, which Visiomed deemed 'misleading and defamatory'. This suspension of listing is to enable us to communicate rapidly", explains Visiomed Group, which denies "all the defamatory allegations contained in the BewellConnect press release".

Copyright (c) 2023 CercleFinance.com. All rights reserved.