The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange continued to opt for caution on Monday (-0.41%) but the trend should soon change with the meetings of the central banks, starting with the American Federal Reserve (Fed).
The star CAC 40 index fell 27.09 points to 6,650.55 points. Last week, it only had one positive session and posted a weekly loss of 0.96%.
After a bullish rally since late September, the mood has become tense in the markets as the final salvo of central bank meetings in 2022 approaches.
Investors will be paying particular attention to the Fed meeting, which begins on Tuesday just after the release of the CPI inflation indicator in the United States for November.
While a further rise in key rates is certain for all market participants, its extent remains uncertain. A majority of investors believe that the US and European central banks’ hikes will be weaker than at their previous meetings, an indication that the fight against inflation is progressing.
However, “the signals are not clear at all”, especially on the state of the American economy on which the Fed is basing itself to adjust its policy, explains Mikael Jacoby, head of continental brokerage at Oddo BHF. “Currently, the measures are in line with expectations, there is neither a positive signal nor a negative signal”, he judges.
He places himself in the camp of those who foresee a sharp rise in rates, of 0.75 percentage point, “to slow down the trend at the start of next year”.
Central banks keep investors all the more busy as there is little corporate news as the end-of-year holidays approach.
OL are getting closer to the goal
The share price of the Olympique Lyonnais group, which controls the football club, took another 12.40% to 2.90 euros, approaching the threshold of three euros, the amount to which the American billionaire John Textor promised to pay. buy the club. The action had fallen to 2.10 euros last week, with doubts about the realization of this operation.
Sanofi no longer looks at Horizon
The French laboratory Sanofi announced on Sunday that it would no longer be in discussion with the Irish biotech Horizon Therapeutics, unlike the American Amgen, which positioned itself on Monday for 27.8 billion dollars.
Sanofi shares fell 0.24% to 88.52 euros. He had lost almost 2% after the announcement of these discussions.
© 2022 AFP
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