CAC 40: October’s favorable momentum continues


(CercleFinance.com) – The Paris Stock Exchange is expected to rise slightly on Monday at the opening, in the wake of its gains in October, investors returning to risky assets despite the still present fears.

Around 8:15 a.m., the ‘future’ contract on the CAC 40 index – November delivery – nibbles 7.5 points to 6282 points, the premise of a sluggish market on this All Saints’ weekend ‘bridge’.

A convergence of elements considered to be rather reassuring has pulled global indices higher in recent weeks, ranging from the decline in bond yields to a slightly better than expected earnings season, to hopes of a slowdown in monetary tightening of major central banks.

As a result, the CAC 40 index has recovered more than 8.8% since the beginning of the month, which allows it to limit its decline to around 12% over the year as a whole.

Over the past week alone, the Parisian index has managed to gain 3.7% despite slowing French growth (+0.2%), rising inflation (+6.5%) and heavy penalties on the results of several tech titans on Wall Street.

Investors will probably remain sluggish before the US employment figures for the month of October, which will be published on Friday, and especially the meeting of the Federal Reserve which should end on Wednesday with a further rate hike of 75 basis points. .

As of today, market participants should adopt a cautious position ahead of the release in the morning of inflation data for October, the recent acceleration of which has worried markets about the timing of monetary tightening by the ECB.

These data will be closely followed by the announcement, last Friday, of a further acceleration to +10.4% in German inflation this month, against +10% last month, under the effect of higher product prices. food.

On the corporate side, the results season will begin to draw to a close, but the week will once again be tinged with several corporate publications.

Among the European companies due to publish their accounts in the coming days are expected, among others, bp, BMW, Ferrari, GSK and Novo Nordisk.

In the United States, Eli Lilly, Pfizer, Moderna, Starbucks, AMD, Uber, Qualcomm and eBay are scheduled to announce their quarterly results this week.

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