2024-01-08 08:43:08
Published on: 01/08/2024 – 09:43 Modified on: 01/08/2024 – 09:41
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The flagship CAC 40 index showed 7,419.60 points (-0.01%) around 9:20 a.m.
On Friday, it ended down 0.40%, concluding its worst weekly performance since October 20 (-1.62%).
“The strength of the American economy, which might reduce the extent of the easing cycle expected across the Atlantic, was the good excuse to take profits on the stock market last week,” summarizes Christopher Dembik, strategy advisor at Pictet AM. Job creation was once more dynamic during the last quarter and average wage growth started to rise slightly once more, he explains.
This change of perspective was also seen in the cost of government borrowing, which started to rise significantly once more. In France, the interest rate on the 10-year loan, the benchmark maturity, stood at 2.73% on Monday.
Investors are mainly focused this week on the consumer price index in the United States, which will be published on Thursday. But “only the next meeting of the Federal Reserve might provide some visibility on the evolution of monetary policy” for Mr. Dembik.
Several officials from the American Central Bank are expected to speak during the week to give indications to the markets.
Monday in the first part of the session, investors will also focus on the euro zone with retail sales in November or an index on the business climate.
Airbus flies over the CAC
The aircraft manufacturer rose 0.83% to 140.86 euros, the best performance of the CAC 40. Its main competitor, Boeing, saw downtime for inspection of its 737 MAX 9 multiply on Sunday around the world, leading to dozens of flight cancellations, following an incident on a plane of the American company Alaska Airlines which lost a door following takeoff.
After a sharply lower opening, the engine manufacturer Safran shifted gears and gained 0.39% to 160.18 euros.
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