The Paris Stock Exchange fell sharply on Monday (-1.88%), at the start of a week when the markets will once once more focus their attention on central banks and while the price of gas in Europe continues to climb.
The CAC 40 index lost 120.41 points to 6,376.81 points around 10:20 a.m., following ending down on Friday (-0.94%), also breaking a series of six weekly gains.
The euro fell back below parity with a dollar boosted by the US central bank (Fed) shortly before 10:20 a.m.
For several sessions, investors have been revising their anticipation of a more gentle rise in key central bank rates in the future, a theory that was one of the driving forces behind the rise in the markets during the summer.
In Europe, gas prices continued to rise in response to the announcement on Friday of the interruption of Russian deliveries by the Nord Stream 1 gas pipeline for three days – from August 31 to September 2 – for “maintenance” reasons according to the Russian gas giant Gazprom.
This added tension to the price of European natural gas: on the Dutch TTF market, which is a reference, the price, which had broken a record at the close on Friday, soared once more to reach 282.495 euros per megawatt hour (+15.52 %) around 10:15 a.m.
In France, some of the customers of the Spanish electricity supplier Iberdrola have been invited to “supply themselves elsewhere” to benefit from regulated energy sale tariffs, and thus avoid seeing prices “double or triple” during automatic contract renewal.
Markets skeptical regarding TF1 and M6
Bouygues (-1.38% to 30.03 euros per share around 10 a.m.) sent a series of commitments to the Competition Authority (ADLC) with RTL Group to save the merger project between TF1 (-2, 09% 6.33 euros) and M6 (-0.96% to 12.44 euros), in particular regarding the activity.