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Paris (AFP) – The Paris Stock Exchange remained passive on Tuesday as investors limited risk ahead of US and European central bank meetings next week.
The CAC 40 index fell 0.14% to 6,687.79 points, marking a third session in the red in a market less optimistic than the past two months.
“We have a more limited risk-taking” after the gains of the last few weeks but “the underlying trend remains generally quite positive”, observes Andrea Tuéni, analyst at Saxo Bank.
Investors are very focused on the US Federal Reserve (Fed) and European Central Bank meetings next week.
They expect to see the Fed go slower on rate hikes this month without foreseeing a pause in the tightening of monetary conditions.
“The markets were still rejoicing last week to potentially only have a 50 basis point hike in December instead of the 75 basis points at the last Fed meetings” but “the upward revision of the final rate in the market expectations, above 5% once the rate hikes are completed, counterbalances this positive effect”, explains Mr. Tuéni.
The Fed has been raising the cost of money since March to fight inflation.
Air pocket for Aéroports de Paris
Aéroports de Paris (ADP) shares fell 12.60%, taking the hit after Dutch airport operator Schiphol’s stakes were sold at a much lower price the previous day.
Schiphol announced the sale of all of the 3.9% of Aéroports de Paris that it held until then, in accordance with an agreement between the two companies, at a price of 133 euros per share. The price of ADP, which was worth 147.65 euros on Monday at the close, fell to 129.05 euros per share.
OL are stamping their feet
The action of OL Groupe, the company that owns the Olympique Lyonnais football club and whose price had been suspended since mid-November, fell 12.19% to 2.45 euros on Tuesday, the day of the recovery. of its listing, far from the price of 3 euros per share promised by the American John Textor to buy the club.
On Monday, OL Groupe gave him an “ultimate deadline” of two days to finalize the operation, after several postponements.
Since January 1, however, the stock is up more than 20%.
Airbus will “just miss” its delivery target
Airbus (+0.47% to 110.84 euros) will “just miss” its target of 700 aircraft delivered in 2022, the European aircraft manufacturer said in a press release on Tuesday.
The group had however reiterated its objective at the end of October to deliver 700 planes in 2022. But it remained faced with the difficulties of its global chain of suppliers, weakened by the pandemic.
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