The Paris Bourse opens sharply (-1.55%) – Boursorama

The Paris Bourse sank 2.06% Thursday morning, stunned by the prospect of a reduction in monetary support from the US Central Bank this year.

At 9:33 am, the flagship CAC 40 index fell from 139.52 points to 6,630.59 points.

The Parisian coast has concluded its sessions in the red since the beginning of the week.

This decline is all the more noticeable as last week, the Parisian market was still very close to its highest performance of 6,944.77 points, reached during the session on September 4, 2000.

“The CAC 40 index immediately gives up all possibilities of returning to its all-time high. The opportunity was nevertheless beautiful and it will not have missed much to register this new record”, comments Thierry Claudé, manager at Kiplink Finance.

Wall Street also stumbled Thursday after the publication of the minutes (Minutes) of the US Federal Reserve’s (Fed) July monetary policy meeting which suggests that the latter would prepare to reduce asset purchases as soon as possible. This year.

“The Minutes certainly do not alter the prospect of a reduction in monetary support” or the idea of ​​a “slowdown in asset purchases [de la Fed, NDLR] in the fourth quarter “despite” signs of weakness in recent economic data, particularly retail sales and consumer confidence “in the United States, said Michael Hewson, analyst at CMC Markets.

“Attention will now shift to the central bankers’ symposium in Jackson Hole next week, where markets are hoping for more evidence on the timing and slowing pace of monthly asset purchases” from the Fed, adds he does.

In view of economic progress and on the employment front, the idea of ​​reducing monetary support this year is gaining ground, although members of the Fed’s monetary policy committee remain divided at the time. more timely to start doing it.

Those in favor of a rapid tightening of monetary conditions, highlight the risks that inflation will continue to accelerate, while the more wait-and-see officials still wish to observe the evolution of economic data, in particular with regard to the Delta variant.

Dark luxury

Luxury-related stocks, which make up more than a quarter of the Paris Bourse index, continued to plunge. Around 9:18 am, the giant LVMH fell 5.94% to 616 euros, Hermès sank 3.67% to 1.233 euros and Kering 7.10% to 667 euros.

Air Liquide resists

Defensive stock Air Liquide took 0.80% to 152.02 euros followed by Alstom (+ 0.52% to 36.84 euros) and Vivendi (+ 0.13% to 31.02 euros), forming the only trio in the green of the CAC 40 index.

Euronext CAC40

pan / ico / cco