The Paris Stock Exchange fell by 0.62% on Tuesday morning, both cautious ahead of a series of macroeconomic indicators and speeches from central bankers, and also weighed down by a decline in the luxury sector.

The flagship CAC 40 index fell 45.61 points to 7,219.88 points around 9:45 a.m. On Monday, the CAC 40 ended down 0.37% following a session with an almost empty agenda. Wall Street indices also fell slightly, a sign that the market is running out of steam following several weeks of gains.

On Tuesday investors will focus on the consumer confidence figures in the United States in November.

In France, household morale improved in November while remaining weak, according to INSEE. The indicator benefits in particular from increased optimism regarding the evolution of the personal financial situation and a greater willingness to make major purchases.

German consumer morale should also pick up slightly in December, according to the GfK barometer.

Speeches by members of the American Federal Reserve are also on the agenda.

“Today, it will be the turn of Fed Governors Christopher Waller and Michelle Bowman, as well as Chicago Fed President Austan Goolsbee, to defend the ‘higher for longer’ rate scenario as the bank central bank will want to maintain”, comments Michael Hewson, analyst at CMC Markets.

This week, investors are “paying close attention to Eurozone inflation data and the value of U.S. private consumption spending, a criterion favored by the Fed in determining inflation,” and therefore are on a posture of waiting, according to Jochen Stanzl, at CMC Markets.

On the bond market, sovereign yields fell significantly on Monday. The interest rate on the ten-year French State loan stands at 3.11%, stable compared to the day before.

Luxury at a loss

The Hong Kong Stock Exchange (-0.98%) once once more suffered on Tuesday from persistent fears regarding the Chinese economy.

In its wake, the shares of luxury companies, very exposed to the Chinese market, are suffering. LVMH lost 2.51% to 679.80 euros, Kering 2.81% to 393.50 euros and Hermès 1.28% to 1,926 euros. HSBC has also reduced its share price target for several groups in the sector, including cosmetics giant L’Oréal (-1.69% to 425.70 euros).

Ubisoft poorly received

The French video game publisher Ubisoft announced Tuesday in a press release the issue of bonds convertible into new shares or already existing shares (OCEANE), for an amount of nearly 494.5 million euros.

Its action fell 9.08% to 26.74 euros.