The Paris Stock Exchange moved little at the opening of the week (-0.06%), due to lack of news to integrate, while the meeting of the European Central Bank on Thursday and data on American employment loom.
The flagship CAC 40 index fell by 4.96 points to 7,929.21 points around 9:20 a.m. On Friday, it ended up 0.09%, but in the red (-0.41%) for the whole week.
The Parisian rating had already fluctuated little last week, with a gap of less than 80 points between its highest, a new record 7,977.68 points, and its lowest, 7,900.48 points on Friday.
The inflation figures are now behind us. In line with expectations in the United States, they came out slightly above the consensus in the euro zone but continue to fall. What will the European Central Bank think of these latest figures?, Natixis analysts wonder.
The answer will be given on Thursday with the meeting of governors then Christine Lagarde’s press conference. Investors are no longer expecting a reduction in the key rate as at the end of 2023 but will notably monitor the institution’s new projections on growth and inflation.
The ECB will want to remain vague on the timing and extent of upcoming rate cuts. It will want to wait for more evidence of a slowdown in inflation in services and wages before starting to lower its rates, estimates Xavier Chapard, member of the research and strategy team at La Banque Postale AM.
On the bond market, the French government’s interest rate remained stable at 2.90%.
The President of the American Central Bank Jerome Powell will speak to Congress on Tuesday.
The week will also focus on data concerning American employment, culminating in the publication of the monthly report on Friday.
But before that, the agenda will be poor for investors, especially Monday with no major indicators on the program. On Tuesday, new estimates on February economic activity in services are expected.
The publication of company results is also coming to an end, with only three CAC 40 companies this week, Thals, Teleperformance and Vivendi.
Teleperformance rebound
The global call center giant Teleperformance, which fell 16.38% over the whole of last week, the worst weekly performance of the CAC 40, regained some color by rising 3.15% to 144.55 euros, best performance of the index.