(BFM Bourse) – The Paris stock exchange ended this Monday evening up slightly by 0.09% at 7,640.81 points, ahead of a news-filled week. This is a new closing record.
The Paris stock exchange was on reserve this Monday, at the start of a week that will be punctuated by a US central bank meeting and a burst of company results.
The CAC 40 started cautiously this week, and after a weekend with a bang (+2.28%), rose 0.09% to 7,640.81 points at the close this Monday evening. This small increase once again allowed the Parisian index to lower its short-term record at Friday’s close (7,634.14 points).
The main market meeting for central banks this week is apparently the meeting of the US Federal Reserve (Fed), whose decision is expected on Wednesday evening.
“The Federal Open Market Committee (FOMC) is expected to keep interest rates unchanged at its January meeting. We believe Fed Chairman Jerome Powell will leave the door open to a possible rate cut in March based on data,” explained Francois Rimeau. , senior strategist at La Française AM.
“We believe the Fed will hint at the timing of cuts at this meeting. Jerome Powell will likely maintain his hawkish rhetoric that surprised markets at the December 2023 press conference as the Fed is increasingly confident of bringing inflation closer to the PCE inflation target of 2%,” he said. continues.
The week will also be marked by the release of quarterly results from Microsoft and Alphabet (Tuesday) as well as Apple, Amazon and Meta (Thursday). For the CAC 40, BNP Paribas, Sanofi and Dassault Systèmes will report their results on Thursday.
Eutelsat in arrears
Going back to Monday’s market reactions, one stock in particular suffered and that was Eutelsat which tumbled 14.5% after it cut its forecast for the current financial year due to delays at OneWeb.
SMCP also limited its decline to 1.9% after issuing a profit warning.
Carmet lost 3.8% after artificial heart designer Asson announced on Monday that it had finalized its appeal to the market, raising 14.9 million euros in net, giving it just 3 months of relief.
Renault closes with a marginal decline of 0.15%, after markets closed, after the diamond brand announced the abandonment of the Ampere IPO project this Monday.
In other markets, the euro fell 0.35% to $1.0805 against the dollar. Oil is down. The March North Sea Brent contract fell 1.3% to $81.99 a barrel, while the New York-listed WTI contract for the same expiration fell 1.5% to $76.85 a barrel.
Sabrina Sadgui – ©2024 BFM Bourse
