Volatility is back in Stock

The miracle did not happen. The CAC 40 has not yet reached this week the "glass ceiling" of 3850 points on which he stumbled past three months. Same thing on Wall Street for the S & P 500 index off the 500 largest U.S. securities, which stalled again on 1115 points.

Good American statistics which show that the activity distributed gradually across the Atlantic have failed to reassure investors. The gap – more and more important by the European mainland where to pick up much softer – has mainly benefited the dollar has rebounded against the euro, after nine months of almost uninterrupted decline.The rebound in the greenback against the euro has been even stronger than the European currency has weakened for weeks by the financial difficulties of many countries in the eurozone, whose head is Greece.

Investors are obsessed with the risk

In reality, rather than adopting the positive news, investors have preferred this week yet, focus on risks that could weigh on financial markets. Among them, investors began to fear a return of inflation could lead to a gradual tightening of U.S. monetary policy.

However, until now, low interest rate remains the primary equity market in the world. A risen too fast in the dollar could also influence the competitiveness of U.S. exporters.This time, the reassuring statements of the President of the Federal Reserve, which confirmed that rates would stay low permanently in the United States, have failed to completely reassure the markets.

The accumulation of signs of geopolitical tensions and the deterioration of the financial rating of several states of the euro area also participate in the general climate of anxiety that prevails today in exchange.

Hope to cross the figure of 4,000 points for Christmas

So the indecision that has dominated this week's stock market and even the CAC 40 was unable to cross the smallest step towards the 4,000 points that all fellows dream of showing up on screens for the St. Sylvestre. There are still two weeks, each comprising three sessions and a half trading to achieve.Not impossible, but gradually as time passes the likelihood of finishing the year above that threshold becomes thinner.

This week, the rating was mainly penalized by the decline in bank stocks, as well as by car values, and Total, which stalled Friday after a sell recommendation issued by a broker.

In the final session Friday, the U.S. indices were significantly strengthened, giving hope for early next week over laughing at the Paris Bourse.

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• Crucial week for banks
• The euro resumed after "dropping too fast"