The CAC40 moved sharply into the red at around 4pm, and is now down 0.6% at 6509pts, following a 0.7% rise in the Paris index on Tuesday, on the back of encouraging news from China over the weekend.

The New York Stock Exchange also slipped into the red, with the S&P500, Dow Jones and Nasdaq losing between 0.2% and 0.5% following a session that saw some technology stocks lose ground, particularly Tesla (-11.4%).

Caution once again dominates today's session, in view of persistent fears over interest rates and the risk of recession", said Kiplink.

"In Beijing, the Chinese authorities have decided to lift the compulsory anti-Covid-19 quarantine for anyone entering the country as of January 8", said Kiplink on Tuesday morning.

Nevertheless, 'the santa rally looks difficult this year, as the financial markets celebrated Christmas a little earlier, with the strong gains seen in November on the majority of world indices', pointed out Vincent Boy at the beginning of last week.

Indeed, falling inflation and the prospect of a Fed pivot, combined with a soft landing for the economy, have led to a certain euphoria in recent months", continued IG France's market analyst.

In other stock news, Neoen has signed a 215 MW Power Purchase Agreement (PPA) with Stanwell Corporation, a 15-year contract representing 65% of the production capacity of the Mount Hopeful wind farm in Australia.

AB Science's masitinib receives orphan drug designation (ODS) from the Swiss Agency for Therapeutic Products (Swissmedic) for the treatment of patients suffering from amyotrophic lateral sclerosis.

Entech announces that it has received an order from Engie Laborelec for a battery storage system to be installed at the European Marine Energy Centre (EMEC) on the island of Eday, in the Orkney archipelago to the north of Scotland.

Copyright (c) 2022 CercleFinance.com. All rights reserved.