(News Bulletin 247) – The CAC 40 fell slightly mid-session this Monday, while American investors were absent to celebrate Presidents’ Day. The market also has some publications to dissect.

Shy start to the week for the Paris Stock Exchange. After having repeatedly pushed back its records both during the session and at the close, the CAC 40 lost 0.27% to 7747.08 points at mid-session this Monday.

Trading volumes are low, with liquidity suffering from the absence of American investors. Wall Street is in fact closed this Monday, due to a public holiday, “Presidents’ Day”.

The market also continues to ruminate on inflation and the evolution of the monetary policy of the major central banks, while the producer price index in the United States surprised on Friday.

“After the upward surprise on consumer prices (CPI) last week, producer prices also surprised upwards in January. This shows that the normalization of the price of goods, which explained the rapid decline in inflation last year, is rather behind us”, explains Xavier Chapard of LBPAM.

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Foncia steps back

On the value side, Forvia lost 3% after delivering its results for 2023 and announcing up to 10,000 job cuts over five years in Europe to restore its profitability. The outlook communicated for 2024 may disappoint the market, particularly the debt reduction target.

Thales shows the biggest drop in the CAC 40, with the group suffering from a downgrade from UBS which went to “sell” on the file compared to “neutral” previously.

The week will be especially animated by Nvidia’s publication on Wednesday evening, the graphics processor manufacturer having been the big winner in artificial intelligence on the stock market for over a year now. Since the start of the year, its shares have increased by more than 46%. On the CAC 40 side, Air Liquide, Carrefour and even Engie will publish their annual results this week.

On other markets, the euro is stable against the dollar at 1.0779 dollars. Oil is falling a little. The April contract on Brent from the North Sea lost 0.6% to 82.98 dollars per barrel while that of the same maturity on WTI listed in New York lost 0.6% to 77.97 dollars per barrel.