(News Bulletin 247) – The Parisian index fell this Monday at the dawn of a week which will be above all marked by the American employment report on Friday.
After several sessions in the green, the Paris Stock Exchange caught its breath this Monday, December 4. The CAC 40 ended down 0.18% at 7,332.59 points.
Caution remained in order this Monday as the markets have progressed well in recent weeks, helped by the decline in inflation on both sides of the Atlantic.
Investors are now awaiting the major indicators of the week, including the publication, Friday afternoon, of the American employment report for November.
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“The most notable event is Friday’s jobs report, with the Fed still appearing to believe that sustainably returning inflation to target will require some leeway in the inflation market. employment,” emphasizes Craig Erlam of Oanda.
“Another weaker report (than expected, editor’s note), especially if it is associated with monthly wage growth of 0.2%, could fuel the idea that not only is the tightening cycle over, but that “rate cuts may not be far away,” he continues.
Gold at its highest
The market will also pay attention to the monetary policy decisions of the Bank of Canada and the Royal Bank of Australia.
On the value side, the CAC 40 was weighed down by the 1.6% decline in Totalenergies which suffered from low oil prices, with Brent below $80. The February contract on North Sea oil lost 0.4% to $78.59 per barrel while the January contract on WTI listed in New York lost 0.5% to $73.71 per barrel.
“The confirmation of OPEC+ production cuts until 2024 has hardly contributed to the rise in oil prices, with markets continuing to doubt compliance with the new ‘voluntary reductions’,” underlines Deutsche Bank.
Some stocks with low valuations stood out. This is the case for Kering which gained 1.8% while, excluding the CAC 40, Maisons du Monde gained 6.1%.
On currencies, the euro lost 0.6% against the dollar at 1.0820 dollars. Gold reached a historic high overnight, above $2,100 per ounce.
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