(BFM Bourse) – The Paris Stock Exchange took a break this Monday at the start of a week which will be marked by the meetings of the American Federal Reserve on Tuesday and Wednesday. The CAC 40 lost 0.20% this Monday evening.
The Paris Stock Exchange played it safe to start the week. In search of a trend throughout the session, the CAC 40 finally closed down slightly by 0.20% this Monday at 8,148.14 points, after having gained 1.7% last week.
The flagship Parisian index has therefore taken its breath while many central banks will hold monetary policy meetings in the coming days. “Big week for central bankers to come as 5 leading banks and 18 other central banks meet to deliberate,” notes Apicil AM in its market commentary.
“At the start of a busy week in terms of central bank meetings (including the Bank of Japan on Tuesday, the Fed on Wednesday and the Bank of England on Thursday), the rate markets fear less accommodating speeches after the upward surprises inflation since the start of the year. The American 10-year rate is thus close to its highest of the year”, explains Xavier Chapard of LBPAM.
“The only central bank that could change its monetary policy this week is the Bank of Japan. And this possibility has increased after the sharp rise in negotiated wages, which are at their highest in 33 years,” he continues.
As for the American Federal Reserve (Fed), “we believe that the tone of the press release and of Powell during the press conference should not change too much, indicating that the next movement in rates should be downward, but that it will not “will not intervene immediately”, continues Xavier Chapard of LBPAM.
On Wall Street, the time has come for a rebound, notably the Nasdaq which jumped 1.2%, invigorated by information from Bloomberg around artificial intelligence. The press agency reports negotiations between Apple and Google with a view to integrating the latter’s powerful interactive artificial intelligence system, Gemini AI, on its iPhones.
Alstom on the rise despite its ouster from the CAC 40
On the corporate side, Alstom, which has just left the CAC 40, gained 6.4% supported by Deutsche Bank which raised its recommendation to purchase. The German bank believes that the railway equipment manufacturer has passed the worst of its cash generation and expects its margins to increase significantly.
Furthermore, Bloomberg launched its own version of the CAC 40, “Bloomberg France 40 Index”, which brings together the largest groups in the Parisian market and therefore constitutes in some way the equivalent of the flagship Parisian index at Bloomberg.
On other markets, the euro lost 0.1% against the dollar to 1.0873 dollars. Oil gains ground, the May contract on North Sea Brent advances 1.5% to 86.61 dollars per barrel, while that of April on WTI listed in New York advances 1.7% at $81.94 per barrel.
Sabrina Sadgui – ©2024 BFM Bourse