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Paris (AFP) – The Paris Stock Exchange is stable in the first exchanges on Tuesday, in a market numbed by the absence of indicators and with investors more wary of the next monetary policy decisions.
The star CAC 40 index grabbed 3.75 points (+0.06%) to 6,700.71 points around 10:10 a.m. The day before, it had fallen by 0.57%.
At the end of a year dominated in the market by central bank policies around the world, investors await the last meetings of 2022 with the hope that they will start a new cycle, or at least complete the series of sudden increases in key rates.
The confirmation of a probable future slowdown in rate hikes by the US Federal Reserve (Fed) by its chairman Jerome Powell last week delighted the markets.
But the atmosphere was a little tense following the publication of two indicators showing the resilience of the American economy. However, the stronger the economic activity, the greater the risk of inflation.
And investors fear that the Fed may “not have finished its job yet” once morest inflation under these conditions, and that it will not slow its rate hikes right away, describes John Plassard, investment specialist at Mirabaud.
In the United States on Monday, the Dow Jones lost 1.40%, the Nasdaq index fell 1.93% and the broader S&P 500 index dropped 1.79%.
Air pocket for Aéroports de Paris
Aéroports de Paris (ADP) shares fell more than 10% at the open taking a hit following Dutch airport operator Schiphol’s stakes were sold at a much lower price the day before.
Schiphol announced the sale of all of the 3.9% of Aéroports de Paris that it held until then, in accordance with an agreement between the two companies, at a price of 133 euros per share.
Catana splits the waves
The Catana catamaran group rose 5.30% to 6.16 euros following its 2021/2022 annual results which highlighted the increase in its margins and cash.
The action had already progressed in the wake of Beneteau on Monday following its results. The latter still rose by 7.36% to 13.72 euros on Tuesday, an increase of 25% in two days.
Societe Generale downgraded
JP Morgan lowered Societe Generale’s recommendation and lowered its price target, dragging it into the red. The action lost 1.64% to 22.72 euros, the worst drop in the flagship CAC 40 index.
© 2022 AFP
