CAC 40: Anesthetized before the meetings of the Fed and the ECB, the CAC 40 lost 0.8% over the week


(BFM Bourse) – The CAC 40 fell slightly by 0.1% on Friday evening as the market already had its eyes glued to the meetings of the ECB and the Fed. Over the week, the star index in Paris returned another 0.8%.

A week for nothing on the Paris Stock Exchange. Close to equilibrium at mid-session, the star index avoided any initiative in this last session of the week. The CAC 40 lost 0.12% to 7213.14 points. Over the week, the balance sheet is hardly brilliant with a loss of 0.8%.

On Wall Street, on the other hand, the atmosphere is a little more festive. The S&P 500 and the Nasdaq have indeed registered new annual highs at 4322.62 points and 13385.95 points respectively.

However, the market seems to be waiting for the meetings of the European Central Bank (ECB), on June 15, and especially of the Federal Reserve (Fed), on June 13 and 14.

The weakening of certain economic indicators, “such as the ISMs, and in particular that of services, could indicate that companies are starting to reduce their staff more significantly in order to restore their margins. But, once again, it is far too early to say it”, judge Sebastian Paris Horvitz of La Banque Postale Asset Management. “If that were the case, it would be good news for the Fed to justify a pause and see that its restrictive policy begins to reduce excess demand in the economy even more obviously,” he adds.

For the time being, according to CME Group’s FedWatch tool, investors attribute a probability of 75% to a status quo on key rates and 25% to an increase of 25 basis points (0.25 percentage points).

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Edenred and ID Logistics promotions hailed

As for values, Edenred ended up 0.7% when Vivendi fell 2.4%. As announced by Euronext, the first will take the place of the second on June 19 within the CAC 40, which leads to adjustments within the index funds which replicate the composition of the CAC 40.

Societe Generale rose 2%, benefiting from a note from Jefferies which reaffirmed its opinion on the purchase and raised its target to 43 euros.

Dassault Systèmes returned 2.5% after announcing that it aims to double its net earnings per share by 2028 as well as the appointment of Pascal Daloz as CEO.

ID Logistics closed the week up 2.5%, investors having welcomed the future entry of the logistics company into the SBF 120 on June 19 in place of OVH (-1.5%) which is leaving it.

As for the smaller stocks, the cybersecurity specialist Wallix returned 13.6% after raising 10.5 million euros in the form of a capital increase and convertible bonds to finance its external growth.

On the other markets, the euro lost 0.3% against the dollar at 1.0753 dollars. Oil is advancing a little. The August contract on North Sea Brent is up 0.4% at $76.25 a barrel while the July contract on New York-listed WTI is up 0.2% at $71.46 a barrel .

Sabrina Sadgui – ©2023 BFM Bourse



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