Ambiance morose Monday at the Paris Bourse. The CAC 40 has yielded 0.93% to finish the session at 3 890.91 points. The activity is particularly low, with about 2.5 billion traded on the great values of the Paris stock exchange. Other stock markets retreated in unison in London, the FTSE lost 0.57% and in Frankfurt the Dax dropped 0.70%. As for the European indices, the Euro Stoxx 50 index dropped 0.90%.
Caution was also needed on Wall Street before the meeting Tuesday of the Monetary Policy Committee of the Federal Reserve. In session, the Dow Jones lost 0.38% and 0.87% on Nasdaq. The Fed should keep its no surprise key interest rate, the interbank rate on a daily close to zero and reiterate its commitment to maintain a low level for a "prolonged period".More than the rate decision widely expected, investors will scrutinize the speeches of leaders of the U.S. central bank. They watch for a possible change in tone or vocabulary that could be the harbinger of early recovery in interbank rates, especially after raising the discount rate last month low fee cash advance .
Increased industrial production
The announcement Monday of a U.S. industrial production slightly exceeded expectations in February, rising for the eighth consecutive month, failed to take the course up.
In New York and Paris the past experts of raw materials and steel were under pressure, pulled down by rising greenback.Also note on Wall Street, as the parent company of Calvin Klein, the Philips-Van Heusen, jumped more than 10%. The group will buy the brand of leisure wear Tommy Hilfiger in UK investment funds Apax Partners, creating a new giant of the fashion and confirming thaw market mergers and acquisitions.
Banks that had climbed a lot these last time also suffered profit taking. Societe Generale has yielded 2.24%, 1.77% Credit Agricole and BNP Paribas 1.21%.