The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The flagship index of the Paris Stock Exchange, the CAC 40, closed down 0.20% on Monday, cautious at the start of a busy week of central bank meetings, notably in the United States, Japan and UK.
The flagship CAC 40 index fell by 16.21 points, to 8,148.14 points.
On Friday, it had erased its gains at the very end of the session to finish up barely 0.04% at 8,164.35 points, still its new historic closing high. Over the week, it gained 1.70% and twice exceeded 8,200 points during the session.
“We still remain in a wait-and-see phase” at the start of a week “very focused on monetary policy,” comments Christopher Dembik, investment advisor at Pictet AM.
The highlight of the week will be the end of the two-day monetary policy meeting of the American Federal Reserve (Fed) on Wednesday evening.
The market still largely expects the Fed to make its highly anticipated first rate cut in June, while the monetary institution maintains its key rates at their highest level in more than 20 years.
Elsewhere on the agenda, during the night from Monday to Tuesday, the Bank of Japan is expected to announce whether it has decided to end its ultra-accommodative policy in the face of inflation and the rise in wages in the country.
On Thursday, it will be the turn of the Bank of England to speak, and there too, “no change” is expected, notes Christopher Dembik.
Alstom praised by Deutsche Bank
For its first session outside the CAC 40, Alstom jumped 6.38% to 13.10 euros. The company was buoyed by Deutsche Bank analysts’ upgrade of their recommendation on the stock from “hold” to “buy.”
Deutsche Bank estimated that “the worst is behind the group”. The stock has lost more than 40% of its value over the past year after a series of bad announcements and investor doubts about the group’s cash flow.
The Accor hotel group, which was officially reinstated in the CAC 40 on Monday in place of Alstom, lost 0.38% to 41.54 euros.
More solar panels for TotalEnergies
The energy group TotalEnergies closed at 62.63 (+0.24%) after announcing that it was developing a solar panel installation activity for the benefit of companies wishing to decarbonize or access an independent electricity supply.
It plans to achieve “8 or 9 GW” of electricity purchase contracts sold in this form by 2030.
© 2024 AFP
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