The Paris stock exchange was moving forward (+ 0.40%) despite the downward revision of German growth in the third quarter, the resurgence of the Covid-19 pandemic and the persistence of inflation. At 9:30 am, the flagship CAC 40 index took 27.99 points to 7,070.22 points after five consecutive sessions of decline.
The meeting promised to be calm in the absence of American markets closed to celebrate Thanksgiving.
Attention was however directed to Germany, where the gross domestic product for the third quarter was revised down to 1.7% against 1.8% in the first estimate published at the end of October. In addition, German consumer sentiment is expected to fall in December, according to the GFK barometer published on Thursday.
Experts are worried about stagnating growth in the fourth quarter due to shortages of raw materials and electronic components but also a new, particularly violent wave of the Covid-19 pandemic.
The second largest European economy is facing its most violent wave of contamination by the coronavirus as the new government coalition, bringing together the Social Democrats, the Greens and the Liberals, will take the head of the country in December.
Investors will also follow the minutes of the last monetary policy meeting of the European Central Bank (ECB) at midday.
According to the minutes of the last meeting of the US central bank’s monetary policy committee on November 2-3, released on Wednesday, several members considered the possibility of an early end to asset purchases and a higher rate hike. sooner than expected if inflation remained high.
On the side of the Brussels Stock Exchange, the Bel 20 appreciated by 0.48% to 4,225.28 points. Same story at the Francfor stock exchanget, where the DAX advanced 0.51% to 15,958.73 points. The increase was less pronounced at the London Stock Exchange, even though the FTSE-100 gained 0.18% at 7,299.61 points.