2023-05-02 09:00:01
The Paris Stock Exchange is down slightly by 0.13% in the first exchanges on Tuesday, awaiting the meetings of the central banks, starting with that of the United States.
The star CAC 40 index fell by 9.62 points to 7,481.88 points around 9:45 a.m. Friday, he had finished up slightly (+0.10%) a dull week (-1.13%).
On the bond market, the cost of French borrowing increased following the degradation of France’s rating by the Fitch agency.
The interest rate on 10-year debt rose to 2.96% on the secondary market by investors in securities already issued by France, once morest 2.88% on Friday at the close. The interest rate on German debt followed the same trend.
Despite “a few clouds”, the volatility of shares “remains at its lowest”, underlines Christian Parisot for the broker Aurel BCG in a note.
The risk of a resumption of banking crisis following the seizure of the First Republic Bank by the American authorities was temporarily ruled out with the takeover of the establishment by JPMorgan.
The stability of the banking system should remain at the center of the discussions of the officials of the American Central Bank (Fed), who meet on Tuesday and Wednesday. Investors will mainly watch the decision on key rates, with a rise expected by all market players, as well as forecasts for the rest of the year.
The Fed “will signal that a rise in June is on the table, but without prior commitment to act accordingly” believe analysts at Deutsche Bank.
The European Central Bank meets on Thursday. From the end of Tuesday morning, the inflation figures in the euro zone will be able to enrich their reflections. The trends for the main European countries have already been known since Friday.
Bad pill for Sanofi
Sanofi was at the bottom of the CAC 40, losing 2.41% to 97.59 euros following Deutsche Bank recommended selling the stock, once morest the “hold” recommendation before. Analysts refer to “a mixed start to the year” following the results published on Friday which “confirmed”, according to them, the difficulty that leaders will have to do better than expected this year. The laboratory’s dependence on its flagship molecule Dupixent is also reported. The title even briefly fell by nearly 6% in early trading.
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