The Paris Stock Exchange is expected to be slightly lower at the opening on Tuesday, after an already tumultuous first session of the week and before important indicators, in particular on economic activity in August.
The futures contract for the star CAC 40 index fell by 0.20% around forty minutes before the opening of the session. On Monday, he had lost 1.80%, after dropping more than 2% in the session, to finish at 6,378.74 points, its lowest level since the end of July.
The Parisian coast has thus abandoned all its gains acquired in August, the outcome of its worst session since July 5.
After having hoped, in the favor of the summer, that the Central Banks would move towards less strict measures, with more moderate increases in the key rate, investors fear more and more that the American Central Bank (Fed) will not modify its monetary policy this year, says Michael Hewson of CMC Markets.
In this context, an intervention by Fed Chairman Jerome Powell on Friday is eagerly awaited.
In France, interest rates on the bond market continued to climb, reaching 1.89% at the close on Monday for the 10-year loan against 1.34% on August 4.
In Europe, the apprehension vis-à-vis the policy of the central banks is coupled with tensions on the price of natural gas, with the prospect of a temporary interruption of Russian gas deliveries via Nord Stream 1.
It doesn’t matter if Russia decides to completely cut off the flows because the market behaves as if it did, leading to a dramatic rise in the price of natural gas. This jump threatens the European economy and could amplify the acceleration of inflation.
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The price of natural gas on the European benchmark market, the Dutch TTF, thus reached 276 euros at the close on Monday. It even exceeded 300 euros at the opening on Tuesday, whereas it was around 70 euros on 1 January.
On Tuesday, investors will dwell a little more on the robustness of economic activity with leading PMI indicators for the month of August. In the countries of the euro zone, particularly in France, analysts expect at least a slowdown in growth, or even a drop in activity depending on the sector.
Among the values follow
TotalEnergies: the energy giant and its Italian competitor Eni announced on Monday that they had made a significant new discovery of gas off the coast of Cyprus.