2024-01-29 17:16:00
By Le Figaro with AFP
Published 2 hours ago, Updated 2 hours ago
The flagship CAC 40 index advanced 6.67 points to 7,640.81 points, setting a new closing record after Friday’s. Kealia / stock.adobe.com
The Paris Stock Exchange practically ended in balance on Monday (+0.09%), with investors not taking any risks to begin a perilous week on all fronts, from corporate news to central banks. The flagship CAC 40 index advanced 6.67 points to 7,640.81 points, setting a new closing record after Friday’s. But he has not yet managed to beat his absolute session record, 7653.99 points, even if he came within five points at the start of the day.
Monday is usually the least busy session of the week for investors, and that’s especially true for this one. If they have had nothing to eat, the indicators will rain down from Tuesday with the growth figures in the euro zone and the countries making it up, the consumer confidence indicator in the euro zone or even the first publication on US employment with job vacancy data.
Tuesday also begins the meeting of the American Central Bank, which will allow investors to again gauge the probability of a rate cut by the institution in March, or later. After several declarations at the start of the year calling for caution regarding a rapid reduction in key interest rates, the dynamic has weakened somewhat in Europe, after the meeting of the European Central Bank.
Numerous business results expected
The interventions of the governor of the Bank of France and that of Portugal particularly marked investors. The latter has “said it was better to cut rates too soon than too late”, notes Aurélien Buffaut, bond manager of Delubac AM. The French government’s ten-year interest rates continued to fall, going from 2.79% on Friday to 2.72% on Monday, the lowest since mid-January.
Geopolitical tensions in the Red Sea and the attack on American soldiers in Jordan may also have favored bonds, investments perceived as safer by investors, underlines Aurélien Buffaut.
The week will also be busy with corporate news, with numerous results expected in the United States in tech, in Europe as well as in France. Friday, LVMH’s publication allowed the stock to experience its best session in 15 years, with a gain of more than 12% which propelled the CAC 40 to a new closing record. The action gained another 0.41% to 776.30 euros on Monday.
Eutelsat plummets
The action of the European satellite operator Eutelsat fell 14.47% to 3.51 euros, after the new group, born from the merger with the British OneWeb, revised its objectives for the financial year slightly lower. 2023-2024. In its wake, the European satellite operator SES lost 3.84% to 5.76 euros.
1706556965
#Paris #Stock #Exchange #takes #risk #important #week