The Paris Stock Exchange should open higher on Monday, in the wake of Wall Street, despite expectations of strict monetary tightening in Europe and the United States.
The CAC 40 index futures contract increased by 0.63% around 40 minutes before the opening. On Friday it ended down 0.77%, at the end of a very volatile week (-0.21%).
Similar scenario Wall Street on Friday, where the indices ended mostly in the green (the Dow Jones yielding 0.06% but the Nasdaq climbing 1.58%) after a session that saw back and forth between positive and negative.
The American indices were fueled by good corporate results and a potential realization (after the publication of the American employment figures) that the American economy is running at full speed and that a normalization of its monetary policy is well necessary, explains John Plassard, head of investment at Mirabaud.
In January, 467,000 American jobs were created, more than triple what was forecast by economists.
The figure was not all happy, with investors fearing that the US central bank, the Fed, will raise its key rates faster and more often this year to counter inflation.
Thus, the publication of consumer price trends in January in the United States will be the macroeconomic highlight of the week.
In Europe, the European Central Bank (ECB) raised the specter of monetary tightening during the year on Thursday, which is earlier than expected.
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At the monetary level, Klaas Knot, a member of the Governing Council of the European Central Bank, said yesterday that he expected the ECB to begin raising its interest rates in the … fourth quarter of this year, reports John Plassard.
He also spoke out for the fastest possible reduction in asset purchases, adds the analyst.
The president of the Frankfurt institution, Christine Lagarde, will speak on Monday during a virtual hearing before the European Parliament’s Committee on Economic and Monetary Affairs.
Publications of corporate results also continue this week and are intensifying in France, with banking, L’Oral, ArcelorMittal and TotalEnergies expected by Friday.