(BFM Bourse) – The CAC 40 lost ground on Monday at the dawn of a new busy week in corporate results.
The CAC 40 begins the week timidly. The flagship index of the Paris Stock Exchange lost 0.12% to 7,338.86 points on Monday at mid-session, after having already lost 0.25% on Friday.
The CAC 40 therefore takes a new breath after reaching a high in the session on Thursday and while Wall Street is closed on Monday due to a public holiday.
The PCE index as a major event
Caution has somewhat invaded all stock markets last week, following several statements by members of the Federal Reserve (Fed) arguing for an increase in key rates of 50 basis points (0.5%) at the March meeting.
In this context, the minutes (minutes) of the last meeting of the Fed, Wednesday evening, and especially, Friday afternoon, the PCE index, the favorite gauge of the American central bank to measure inflation, will constitute the two major key macroeconomic meetings of the week for the markets.
For the PCE index, “the ‘core’ index (excluding energy and food prices) is likely to continue to confirm inflationary pressures in the short term. Last week’s consumer price index showed that they were still relatively widespread, with the reduced mean and median of the CPI indicators rising the most since September,” Deutsche Bank said.
The results of companies will still be numerous this week, with for example Engie, Stellantis, Eurofins, Bouygues, Capgemini or even Worldline on the CAC 40.
Forvia reassures on its debt reduction
In the meantime, Forvia, which brings together Faurecia (+2.5%) and its German subsidiary Hella, published its annual accounts on Monday with both a much higher than expected cash generation and the announcement of a project sale which will allow it to complete its asset sales program.
The land Icade (+ 1.2%) has, in addition to its annual accounts, announced that it would probably not go through an IPO to value the assets of its subsidiary Health, contrary to its initial plans.
On the other markets, the euro is stable against the dollar at 1.0685 dollar. Oil contracts are progressing a little. The North Sea Brent contract rose 0.8% to 83.66 dollars a barrel, while New York-listed WTI rose 0.6% to 76.78 dollars a barrel.
Julien Marion – ©2023 BFM Bourse