The Paris Stock Exchange was stable (-0.03%) Monday morning, the start of a week that will still be occupied by questions related to monetary tightening by central banks and by corporate results.
At 9:30 a.m., the CAC 40 index lost 1.96 points to 6,949.42 points. On Friday it ended down 0.77%, at the end of a very volatile week (-0.21%).
Markets should recover a little more calm this week, after the monetary policy meetings of the American, European and British central banks during the last two weeks, which all three adopted a speech of acceleration of monetary tightening, predicts Vincent Boy , market analyst at IG France.
In Europe, the European Central Bank (ECB) raised the specter of monetary tightening during the year on Thursday, which is earlier than expected.
European Central Bank Governing Council member Klaas Knot said yesterday he expects the ECB to start raising interest rates in the… fourth quarter of this year, says chief investment officer John Plassard at Mirabaud.
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.
And in the United States, the Wall Street indices ended mostly in the green on Friday (the Dow Jones yielding 0.06% but the Nasdaq climbing 1.58%), driven by good corporate results and after data strong on American employment.
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.
A higher-than-expected reading could lead to further shocks in the market, as it could imply an even faster tightening of US monetary policy, believes Vincent Boy.
Publications of corporate results also continue this week and are intensifying in France, with many banks, L’Oral, ArcelorMittal and TotalEnergies expected by Friday.
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Since these accusations, the Orpea stock has fallen by around 60% and that of Korian by nearly 40%.
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