2023-09-11 17:03:06
The flagship CAC 40 index gained 37.50 points to 7,278.27 points. Last week, the index ended with a weekly decline of 0.77%, however maintaining a gain of around 12% over the year.
The market is wait-and-see before the publication of several macroeconomic indicators in the United States later in the week and the next meeting of the European Central Bank (ECB) on Thursday, which must specify the direction of its monetary policy.
“The market doesn’t really know which foot to dance on,” comments Charles de Riedmatten, equity manager at Myria AM, while the ECB must decide whether to keep its rates unchanged or raise them once more.
Later in September, it will be the turn of its American counterpart, the Federal Reserve, to also decide on its monetary policy.
“It’s an endless debate, but the fear is that central banks will be too restrictive and that they will dry up all sectors of the economy,” adds Charles de Riedmatten, recalling that “the impact of an increase rates take between 12 and 18 months to spread throughout the economy.
Furthermore, investors are awaiting the publication in the United States of the CPI price index for August on Wednesday, retail sales on Thursday as well as the latest edition of the consumer sentiment survey published by the University of Michigan.
Airbus misses takeoff
The Airbus group dropped 1.31% to 133.66 euros despite the order from the Thai operator Thaicom for a geostationary telecommunications satellite reconfigurable in orbit.
This is the ninth OneSat satellite sold by Airbus, following one this summer for an undisclosed customer. Satisfaction for the European giant following a year without sales while its great rival Thales (+0.47% to 139.35 euros) dominated the market with five satellites sold for 2022 alone.
JCDecaux supported by a recommendation
The French display giant JCDecaux saw its share price jump 5.81% to 17.11 euros following Oddo BHF raised its price target from 21 euros to 22 euros.
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