The CAC 40 index gained 37.50 points to reach 7,278.27 points. Last week, the index ended with a weekly decline of 0.77%, but maintained a gain of about 12% for the year.
The market is showing cautiousness ahead of the publication of several macroeconomic indicators in the United States later in the week, as well as the upcoming meeting of the European Central Bank (ECB) on Thursday, which will clarify the direction of its monetary policy.
“The market doesn’t know which way to go,” commented Charles de Riedmatten, equity manager at Myria AM, as the ECB must decide whether to keep its rates unchanged or raise them again.
Later in September, it will be the turn of its American counterpart, the Federal Reserve, to also decide on its monetary policy.
“It’s an endless debate, but the fear is that central banks will be too restrictive and dry up all sectors of the economy,” added Charles de Riedmatten, reminding that “the impact of a rate hike takes between 12 and 18 months to spread throughout the economy.”
In addition, investors are awaiting the publication of the CPI price index for August in the United States on Wednesday, retail sales on Thursday, as well as the latest edition of the consumer sentiment survey published by the University of Michigan.
Airbus fails to take off. The Airbus group dropped by 1.31% to 133.66 euros despite the order placed by Thai operator Thaicom for a geostationary reconfigurable telecommunications satellite in orbit.
This is the ninth OneSat satellite sold by Airbus, following one sold this summer to an undisclosed client. A satisfying outcome for the European giant after a year without sales while its main competitor, Thales (+0.47% at 139.35 euros), dominated the market with five satellites sold for the year 2022 alone.
JCDecaux boosted by a recommendation. The French advertising display giant, JCDecaux, saw its stock price surge by 5.81% to 17.11 euros after Oddo BHF raised its target price from 21 euros to 22 euros.
