The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange closed lower on Monday, after a session marked by a low trading volume in the absence of American investors due to a public holiday in the United States, and for lack of an appointment. you major economic.
The star CAC 40 index fell 17.26 points to 7,279.51 points. On Friday, it fell 0.27%, hampered by the rise in oil prices, but that did not prevent it from ending the week on an increase of 1.16%.
“With US markets closed today, this gives an atypical day for the CAC 40, with a volume of exchanges and rather weak movements”, comments Alexandre Baradez, analyst of IG France.
If the index remained in positive territory for most of the session, the meager enthusiasm on the markets did not hold after a speech by Christine Lagarde in the afternoon.
The President of the European Central Bank (ECB) gave a speech in London in which she did not reveal anything about what the monetary institution could decide at its next meeting on September 14.
“We have the impression that we are still threatened by a rate hike in Europe”, comments Alexandre Baradez.
“It should also be noted that inflation is higher in Europe than in the United States and that the ECB began its monetary tightening cycle after the Federal Reserve (Fed)”, underlines the analyst.
The Australian and Canadian central banks are also on the menu this week, both must “announce their monetary policy and the markets are waiting for a break from these central banks”, underlines Vincent Boy, analyst at IG France.
In addition, “six interventions from members of the Fed this week and eight from members of the ECB” are expected. We will also have to deal with the publication of the “+ beige book + of the Fed on the economic outlook” on Wednesday evening, explains Vincent Boy.
Saint-Gobain loose ballast
The French building materials giant Saint-Gobain will join the tightest pan-European index, the Stoxx 50, on September 18, the operator Qontigo announced on Friday after market close, which did not prevent the group to close down 3.14% at 58.36 euros.
LVMH outdated
The capitalization of the Novo Nordisk laboratory exceeded Friday at the close that of the global luxury giant, making the Danish company the largest listed European company, a place occupied for more than two and a half years by LVMH. The value of LVMH shares dropped 0.41% on Monday to 772.60 euros.
Casino at half mast
The Casino distributor dropped 14.22% to 2.41 euros. In August, the three main rating agencies, Moody’s, Fitch Ratings and S&P, downgraded Casino’s rating and placed it in default, in particular because of unpaid interest on its debt.
© 2023 AFP
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