The consolidation phase underway on the Paris market since Monday is continuing - and gaining momentum - with the CAC now down 1.2%, around 7,175 points, penalized in particular by the decline in the banking sector (BNP Paribas down 2%, just ahead of Société Générale at -1.8% and Credit Agricole at -1.6%).

Since the start of the week, the Paris index has thus fallen by almost 3%.

Financial news continues to be marked by the latest statements from Fed Chairman Jerome Powell, who clearly hinted that the central bank was not finished with rate hikes in view of persistent inflation.

As a result, the spectre of the US economy slipping into recession is becoming ever more real, deterring investors from taking any risks.

Yesterday, at the final bell, the Dow Jones was down by 0.3%, while the Nasdaq Composite was down by around 1.2%.

"There was a rotation away from the 'FANMAGs' (Facebook, Apple, Netflix, Microsoft, Amazon and Google) and towards value sectors such as energy and industry", commented one trader.

On the statistics front, today's session will be punctuated by the release, in the USA, of old home sales, Conference Board leading indicators and weekly oil inventories.

Meanwhile, business sentiment in France remained stable in June, according to the synthetic indicator calculated by Insee (based on responses from business leaders in the main market sectors), which remains at 100, its long-term average.

In the United Kingdom, the Bank of England's (BoE) monetary policy statement is expected at lunchtime, and markets are expecting a further tightening of interest rates.

Finally, we note that the repercussions of Powell's statements remain limited in the bond compartment, where the yield on 10-year Treasuries is down to 3.72% and that of the Bund with the same maturity, the benchmark rate for the eurozone, is down to 2.43%.

In French company news, Thales reports that it has been chosen by Japan-based eVTOL aircraft manufacturer SkyDrive to supply its FlytRise flight control system for its future three-seat, zero-emission production eVTOL aircraft.

Engie reports that, through its Engie New Ventures venture capital fund, it has invested in TreaTech, a Swiss start-up specializing in biogas production. The energy group explains that it has closed a €9 million financing round for TreaTech.

Finally, in order to strengthen its liquidity, Casino has announced the sale of its residual stake in Assaí, i.e. 57,582,850 shares representing 11.7% of the capital of this Brazilian cash & carry retailer.

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