The markets are perplexed. The Cac 40, which attempted to regain the path to higher opening on Wednesday (0.53% to 3800.83 points) quickly changed his tune. At the midpoint the CAC 40 was down 0.72% to 3753.56 points.
Other European markets are also struggling: the Dax in Frankfurt Stock Exchange which had opened higher yields of 0.73% 0.08% mid-session at 6642.34 points and the London Stock Exchange which started on a slight gain of 0.10% was down 0.74% at 5653.40 points.
The operators first tried to follow the positive momentum from Asia this morning, which allowed the Japanese Nikkei to close on a technical leap of 5.68%, and led the other places in the region in the green . Intensive hunting for bargains in the indices increased in a climate a bit calmer after further intervention by the Bank of Japan (BoJ).This has injected 3.5 trillion yen Wednesday (31 billion euros) in the money market, bringing to 26,500 billion yen (234 billion) the total sum provided by the BoJ to the interbank market since Monday. But the trend remains fragile in the wake of widespread declines sessions to all European markets, and to a lesser extent, the U.S. exchanges.
The trust is indeed far from being restored while the nuclear situation in Japan remains very critical. Radioactivity measured at the entrance to the central Fukushima reached a new peak around 10:45 am local time, reported the Japanese Nuclear Safety Agency. "The level of radioactivity near the entrance varies greatly from hour to hour at levels that continue to be harmful to health," said government spokesman Yukio Edano.In addition, a strong earthquake occurred Wednesday at mid-day (this morning in Paris) east of Tokyo, where buildings have long trembled.
New flurry of indicators in the program
Markets should also keep an eye on indicators of the day, again numerous. In Europe, registrations of new cars rose 0.9% yoy in February, the first bounce after ten consecutive months of declines, according to figures released Wednesday by the European Automobile Manufacturers Association (Acea).
Inflation in the euro area rose to 2.4% in February over a year, Eurostat said Wednesday. It was 2.3% year on year in January from 2.2% in December and 1.9% in November. Rising prices rose 0.4% in February compared to January.
United States, the Labor Department will publish the price index for production at 13.30.At the same time will the housing starts and the balance of current accounts. Finally, at 15:30 will be published weekly petroleum stocks.
On the currency markets, the euro has stabilized at 1.3977 dollar.
Values to follow
As for values, securities directly or indirectly exposed to catastrophe Japanese started to fall again after regaining some colors in early trading. LVMH fell by 0.87% to 103.03 euros and Hermes of 1.13% to 144.05 euros.Only the investment certificate Areva bounced 2.85% to 29.62 euros after its tumble over the last three sessions.
EDF: -0.49% to 28.42 euros
The electrician French and Italian A2a confirmed Tuesday the six-month extension of their shareholder pact in Edison to take the time to reach agreement on the restructuring of their partnership.
In addition, the group is preparing to send "teams" and "equipment" in Japan to help the company Tokyo Electric Power (TEPCO), which operates the nuclear plant in Fukushima, cope with the consequences of the tsunami, said Wednesday the company's CEO, Henri Proglio on RTL.
L'Oreal: + 0.41% to 78.40 euros
The president of Yves Saint Laurent Beauté, a subsidiary of LVMH, told Reuters that his company intends to almost double its turnover in five years to reach the one billion euros, thanks to the lever Asian and climb well the club of top five global brands of cosmetics.
Alstom: + 0.50% to 38 euros
The CEO of Alstom, Patrick Kron, said he still opposed the entry of Mitsubishi Heavy Industries in the capital of Areva.
Renault: + 0.31% to 37.67 euros
The money paid by the manufacturer to pay the false information intended to support the charges of espionage brought against three of its executives has been partially solved in a Swiss bank account opened by one of his security guards, shackled Duck wrote on Wednesday.
Note that the manufacturer has sales up 2.8% in February over a year, according to figures of registrations of the European Union. For his part, Peugeot (2.48% to 27.22 euros) sees his own shrink by 5%.
BNP Paribas: -2.21% to 50.81 euros, Societe Generale: -2.12% to 44.83 euros
The banks are down sharply after Moody's lowered the rating on Tuesday night in Portugal two notches to "A3" with negative outlook, raising fears about sovereign debt of countries known as peripheral euro area.
Bollore is optimistic
Bourbon: -5.37% to 32.01 euros
The group released Wednesday 2010 earnings fell sharply, mainly because of difficult market conditions, but the group estimated that the average utilization rate of its fleet to continue to improve gradually.
Transgene: -4.83% to 11.23 euros
The group referred to tackle 2011 with confidence even though the French biotechnology company has continued to widen its loss in 2010 and some of his projects have been delayed.
Mersen: 33.64 EUR -3.25 EUR
The group said Wednesday expect for 2011 a slight improvement in profitability and renewed growth, albeit slow, its sales from the electronics and solar energy.
Bolloré: + 1.18% to 154.15 euros
The group reported a 40% increase in operating profit in 2010 thanks to its growing transport business, logistics and port handling.
Zodiac Aerospace: + 1.62% to 47.72 euros
The group raised its revenue forecast for 2010-2011 after a second quarter better than expected thanks to the recovery of the aviation sector.
EPA will report on its February traffic. Ruby, Stallergenes and Boiron reveal their annual results after market close.