The Paris Stock Exchange snapped a six-week streak of gains, ending down 0.94% on Friday as shifting investor expectations of future central bank policies prompted some profit-taking.
The star CAC 40 index fell 61.57 points to 6,495.83 points. It ends the week with a drop of 0.89%, and brings its losses since January 1 to 9.19%.
The Parisian rating, neutral over the first four sessions of the week, spent the whole day in the red, a trend amplified in the last hour of trading.
It therefore does not equal the seven weeks of consecutive gains experienced in October and November 2021. Over the past six weeks, marked in particular by corporate results, the CAC 40 had gained 10.50%.
„These are profit-taking, but they remain on the margins”, nuances Mikaël Jacoby, head of continental Europe brokerage for Oddo.
Since mid-June, „there was a violent recovery” of the indices, „more than what could be expected when trading volumes were low,” he explains.
Among the reasons for the rise, market participants held out hope that slowing US inflation in July and a series of indicators showing slowing growth prompted the US central bank to pivot to a policy more flexible currency. But several statements by officials of the institution have questioned this possibility this week.