The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange closed down 0.18% on Tuesday, driven by speeches from central bankers who are pushing investors to revise their expectations on the timetable for cuts in key rates from monetary institutions.
The flagship CAC 40 index finished at 7.3641.11 points. On Monday, the Paris Stock Exchange ended down 0.72%.
“Today’s market is falling but not capsizing,” comments Lucas Excoffier, in charge of continental brokerage at Oddo BHF.
“Uncertainties over the timing of central bank rate cuts are the central theme of the session,” continues the trader.
“Investors hoped to see these first declines in the spring and these expectations are being called into question as central bankers speak out,” explains Lucas Excoffier.
Investors turned at the end of the afternoon to the speech of a governor of the American central bank, the Federal Reserve (Fed), Christopher Waller.
The latter indicated that there was “no reason to make rate cuts as rapid as in the past” and that this would only happen provided that “inflation does not rebound”.
On the side of the European Central Bank (ECB), three members delivered cautious speeches concerning a possible rate cut in 2024.
On the bond market, the French State loan with a ten-year maturity stood at 2.75% compared to 2.73% at Monday’s close.
Divorce between Air France-KLM and CMA CGM
End of the freight partnership, exit from the board of directors: less than two years after the publication of the bans, a divorce is looming between Air France-KLM (-2.56% to 11.72 euros) and CMA CGM, even if the shipowner, which is not listed, remains for the moment the third shareholder of the airline group.
Ipsos continues to grow
The French specialist in market research and surveys Ipsos (-1.09% to 58.80 euros) announced Monday, after market trading, the acquisition of the British company Jarmany, specializing in data analysis and management, continuing thus its consolidation, less than three months after the acquisition of an Irish competitor.
Vivendi in decline
The audiovisual group Canal+ (a subsidiary of Vivendi) announced Monday that it would “finalize by the end of January” the acquisition of OCS, the pay channel bouquet of the telecommunications operator Orange, after the green light subject to conditions on Friday from the Competition Authority.
Vivendi lost 0.90% to 9.87 euros.
© 2024 AFP
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