The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / Eric PIERMONT)
The Paris stock exchange closed slightly higher (+ 0.22%) on Monday after an enthusiastic weekend and hopes of a slowdown in key US rate hikes.
The CAC 40 index gained 0.22% to 6,609.17 points. It was up 0.58% on Friday and ended the week up 2.78%.
For Mikael Jacoby, head of brokerage for continental Europe for Oddo, the session was marked by “a slightly exaggerated optimism that is beginning to fade” regarding monetary policy.
But overall, the expert notes “a lack of real news that can give direction in one way or another”.
Investors are very attentive to comments from US central bank (Fed) officials on the evolution of the monetary tightening cycle to fight inflation. Thursday’s release of a slowdown in US inflation in October led them to hope that the Fed would ease its tightening cycle.
Federal Reserve Vice President Lael Brainard expects Fed rate hikes to slow “soon,” he said Monday, but stressed that the institution is not yet expected to put an end to rate hikes.
Investors will be very careful Wednesday on the US retail sales figure for October, as several large retail giants will reveal their quarterly results, from Walmart and Home Depot on Tuesday to Target on Wednesday.
Consumption and health are different
In large-scale distribution, Carrefour took 1.92% to 16.43 euros and Danone + 1.80% to 50.22 euros.
On the back of most of the values in the healthcare sector in the world, Sanofi gained 2.01% to 84.09 euros.
Good semiconductor behavior
STMicroelectronics stock (+ 3.05% to € 36.98) was driven by the strong growth of Infineon (+ 7.77% to € 31.50).
The German semiconductor manufacturer announced on Monday a € 5 billion investment project to build a new factory in the east of the country as Europe seeks to strengthen its sovereignty in this strategic sector.