The Paris Bourse, which will devote all its attention to the conclusions of the American central bank, was heading Wednesday towards an opening in slight decline.
The CAC 40 index futures contract fell 0.18% forty minutes before the opening of the session. The day before, the Parisian place had ended up slightly (+ 0.35%) to 5,067.93.
The New York Stock Exchange closed for its part without direction on Tuesday.
“European markets are expected to open in dispersed order with a slightly bearish bias ahead of the outcome of the long-awaited US Federal Reserve meeting,” said Michael Hewson, analyst for CMC Markets.
The US central bank, the Fed, will present its forecasts for the world’s largest economy until 2023 on Wednesday, following its last monetary meeting before the presidential election on November 3.
No change in monetary policy is expected by market participants who will focus on the press conference of Fed President Jerome Powell at 6.30 p.m. GMT.
“In reality, the Fed is somewhat hostage to events, whether it is a second wave of the coronavirus or a political stalemate over a second stimulus package” in the United States, said Hewson.
For a month and a half, negotiations on new financial assistance from the federal government to pull the world’s largest economy out of the crisis have been stalling in Congress.
The consequences of the ongoing pandemic are deadly for the global economy as central banks and governments are striving to revitalize through liquidity injections and massive stimulus packages.
The loss for the tourism sector is estimated at 460 billion dollars in the first half of the year by the World Tourism Organization (UNWTO).
Before the Fed, investors will have seen the health of US consumers with retail sales for August.
VALUES TO FOLLOW
Europcar: the rating agency S&P Global Ratings has lowered by three notches the financial rating of the car rental company which is seeking to restructure its debt after being very weakened by the Covid-19 pandemic.
Suez: the group announced Wednesday that it was entering into negotiations with PreZero, the environmental arm of the Schwarz group, to sell it recycling activities in four European countries for 1.1 billion euros.
The automotive sector as a whole: the president of the Automotive Platform (PFA), Luc Chatel, who represents companies in the sector in France, is concerned about a possible new tax on the weight of vehicles, in an interview with the daily L ‘Opinion published Tuesday.
GL Events: the event leader whose activity was paralyzed due to the health crisis, suddenly plunged “into the red” in the first half and expects a loss of around 50 million euros in full year.
pan / ak / spinnaker