(BFM Bourse) – The Parisian index lost ground mid-session this Monday, catching its breath after reaching new heights.
Take a breather for the CAC 40 this Monday. After breaking its records both during the session and at the close on Friday, the Parisian index fell slightly this Monday, losing 0.17% to 8,204.90 points.
“The market as a whole begins its new week catching its breath with an expected break after the last strong rally in stocks. (…) Even though the benchmark indices are currently moving directionless, the general sentiment remains optimistic and the appetite for investor risk remains high,” explains Pierre Veyret, technical analyst at Activtrades.
“In Europe, the prospect of a next round of monetary easing from the European Central Bank next month is bolstering market sentiment every day, while things are also starting to improve on the other side of the Atlantic,” he adds.
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Sanofi on the rise
Several major indicators will need to be monitored by investors this week, notably retail sales in the United States on Wednesday, and especially the consumer price index on the same day. An obviously critical figure for market operators who continue to count on rate cuts of 50 basis points, or 0.5 percentage points, from the American Federal Reserve this year.
On the business side, Cisco, Allianz, Burberry and Walmart will publish their accounts this week. As for French companies, Vallourec, Elior, Scor and Ubisoft will deliver financial results.
This Monday, the automotive groups are in good shape, Stellantis advances by 3% and Renault falls by 2.1%. Aeronautics is losing ground, Airbus falling by 1.8%, Thales by 0.8% and Safran by 0.8% as well.
Sanofi advances 1.7% after announcing more than 1 billion euros of additional investments in France. The group also indicated that the American health regulator had granted priority review to Dupixent, its blockbuster, for a potential indication in the treatment of chronic rhinosinusitis with nasal polyposis in adolescents.
On other markets, the euro is stable against the dollar at 1.0782 dollars. Oil, for its part, is rising slightly. The July contract on North Sea Brent rose 0.3% to $83.02 per barrel, while the June contract on WTI listed in New York advanced 0.4% to $78.55 per barrel.
Julien Marion – ©2024 BFM Bourse