CAC 40 Rises Before ECB Rate Decision

Cac Futures

The French stock market’s benchmark index CAC 40 experienced an upward movement on Thursday, rebounding from losses incurred in the previous session, as investors anticipated the European Central Bank’s policy announcement scheduled for later in the day. The ECB is widely anticipated to declare a 25 basis points increase in interest rates, marking the first rise in approximately three years.

The post-meeting conference by ECB Chief Christine Lagarde is anticipated for insights regarding potential future policy adjustments. Meanwhile, investors maintained their focus on the evolving situation in the Middle East, where ongoing tensions between the U.S. and Iran persist as a significant concern. The CAC 40 increased by 67.61 points, reflecting a rise of 0.83%, reaching a level of 8,229.44 at midday.

  • STMicroelectronics experienced an increase of 3.2%.
  • ArcelorMittal experienced an increase of 2.75%, whereas Societe Generale, LVMH, Engie, Veolia Environment, Carrefour, Schneider Electric, and Thales saw gains ranging from 1.4% to 1.8%.
  • TotalEnergies, Bouygues, Publicis Groupe, Renault, Safran, Kering, BNP Paribas, Hermes International, Bureau Veritas, Airbus, Credit Agricole, Unibail Rodamco, and Orange experienced gains ranging from 0.6% to 1.1%.
  • Capgemini declined by approximately 3.6%.
  • Dassault Systemes experienced a decline of 3.2%, while Legrand saw a decrease of 1.9%.
  • Pernod Ricard, Stellantis, and Air Liquide exhibited signs of weakness as well.