The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / ERIC PIERMONT)
The Paris Stock Exchange fell by 0.43% on Tuesday in early trading, erasing its gains from the day before and preparing for more important news to come, such as speeches from American central bankers.
The flagship CAC 40 index fell 45.06 points to 8,160.91 points around 9:25 a.m. On Monday, it increased by 0.35%.
“The markets are waiting for the next good surprise,” said Natixis analysts. They note that U.S. indexes are “peaking toward highs” while stock volatility levels are “at all-time lows.”
Like Monday, the session is poor in economic indicators but investors will keep their ears to the speeches of central bankers which follow one another throughout the week.
Markets are trying to learn more about the state of mind of central bankers in light of the latest economic data in order to better understand upcoming monetary policy decisions.
On Monday, the two vice presidents of the Fed reiterated that interest rates will remain high for longer than expected, after a rebound in inflation in early 2024 which pushes them to a cautious approach.
On Wednesday, the minutes of the last meeting, which ended on May 1, are also expected.
Some results and company announcements also continue to excite investors, culminating on Wednesday in those from chip manufacturer Nvidia, essential for artificial intelligence.
On the bond market, the interest rate on the 10-year French government bond remained stable at 2.99%.
Sanofi in AI
The French pharmaceutical laboratory Sanofi announced on Tuesday a collaboration with OpenAI (company creating ChatGPT) and the American biotech Formation Bio, to accelerate the use of artificial intelligence in the development of drugs.
“The three teams will bring together data, software and models adapted to develop personalized solutions adapted to the entire drug development cycle,” Sanofi said in a press release.
The stock opened higher before losing most of its gains. It advanced another 0.06% to 89.21 euros around 9:20 a.m.
Euronext CAC40