The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange is moving into negative territory on Monday, after closing at a record on Friday, with the market catching its breath.
The flagship CAC 40 index lost 33.35 points (-0.44%) to 7,563.56 points around 10:00 a.m. On Friday, it ended up 0.28% at a record level of 7,596.91 points and signed a weekly report up 0.93%, its fifth week of increase in a row.
“After a new record, logic would dictate that the CAC 40 should experience profit taking this week”, therefore showing a decline, comments Christopher Dembik, strategy advisor at Pictet AM.
“The context is favorable”, he continues, the meetings of the major central banks have passed and there are “few statistics apart from the inflation figures in the euro zone (Tuesday) and in the United Kingdom (Wednesday) and volumes down due to the approach of the holidays.
On the agenda for Monday’s session, only the publication of the IFO barometer of business morale in Germany will occupy investors before knowing the next decision on its rates from the Bank of Japan (BoJ) on Tuesday.
The Japanese central bank does not see any reason to put an end to its negative short-term rate this month, as it is still waiting to verify whether a dynamic of wage increases will take lasting place in Japan to support the inflation in a virtuous way.
“Unlike other central banks where the focus is on rate cuts, speculation around the BoJ still focuses on when the negative interest rate policy might end,” the analysts commented. of Deutsche Bank.
The BoJ displays a rate on bank deposits with it which has been stuck at -0.1% since 2016 and remains determined to maintain a so-called ultra-accommodating monetary policy, in order to support the Japanese economy which remains fragile.
Eiffage: a contract worth EUR 2.54 billion
A group of companies led by Eiffage (-0.95% to 95.80 euros) won a contract worth 2.54 billion euros to build a section of line 15 of the Grand Paris metro, to the east of the capital, the group and the Société du Grand Paris (SGP) announced on Monday.
© 2023 AFP
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