周一，CAC 40指数扭转早盘涨势，收于7449点，跌幅0.2%，受奢侈品板块下跌的压力，交易员预计本周将是货币政策决策的关键一周。预计美联储将自2020年以来首次降息，目前认为大幅降息50个基点的可能性更大。人们还对英格兰银行、日本银行和挪威央行的决定充满期待。在个股中，奢侈品巨头LVMH、爱马仕和开云集团下跌0.7%至1.5%，原因是中国经济数据低于预期，抑制了奢侈品需求前景。此外，意法半导体领跌3.4%，达索系统紧随其后，下跌2.1%。

The CAC 40 reversed early gains to close 0.2% lower at 7,449 on Monday, pressured by declines in the luxury sector, while traders anticipated a pivotal week for monetary policy decisions. The Federal Reserve is expected to cut interest rates for the first time since 2020, with a substantial 50 basis point reduction now considered more likely than not. Anticipation also surrounds decisions from the Bank of England, the Bank of Japan, and the Norges Bank. Among individual stocks, luxury giants LVMH, Hermès, and Kering fell between 0.7% and 1.5% due to weaker-than-expected Chinese economic data dampening luxury goods demand outlook. Additionally, STMicroelectronics led declines with a 3.4% drop, followed by Dassault Systèmes, which fell by 2.1%.

周一，CAC 40指数微涨0.1%，至7475点，交易员等待了一周的关键货币政策决定。焦点在于美联储，人们普遍预计美联储将自2020年以来首次降息，目前大幅降息50个基点的可能性超过50%。预计英格兰银行、日本银行和挪威央行也将做出其他重大货币政策决定。在个股中，欧莱雅领涨1.1%，达能和布伊格分别上涨0.5%和0.4%。在下跌方面，凯捷是跌幅最大的公司，下跌1.7%，紧随其后的是意法半导体，下跌约1.1%。

The CAC 40 edged up 0.1% to 7,475 on Monday, as traders awaited a week of key monetary policy decisions. The spotlight is on the Federal Reserve, which is widely expected to lower interest rates for the first time since 2020, with the likelihood of a substantial 50 bps rate cut now exceeding 50%. Other significant monetary policy decisions are also anticipated from the Bank of England, the Bank of Japan, and the Norges Bank. Among individual stocks, L'Oréal led the gains with a 1.1% increase, while Danone and Bouygues added 0.5% and 0.4%, respectively. On the downside, Capgemini was the largest decliner, dropping 1.7%, followed closely by STMicroelectronics, which fell around 1.1%.

CAC 40指数周五上涨0.4%，收于7465点，投资者仍关注美国货币政策，美联储下周大幅降息50个基点的可能性升至近50%。在欧洲，欧洲央行如预期般降低了利率，但提供了有限的未来指导，强调了一种依赖数据、逐次会议的方法。在国内，法国8月份的通货膨胀率从最初估计的1.9%下调至1.8%，为2021年7月以来的最低水平。在CAC 40成分股中，雷诺以2.4%的涨幅领先，而安盛、Vinci和达索系统各上涨1.2%。相反，保乐力加股价下跌2.4%，成为为数不多的下跌股之一。CAC 40指数本周上涨1.7%。

The CAC 40 advanced 0.4% to close at 7,465 on Friday, as investors remained focused on US monetary policy, with the likelihood of a substantial 50 basis point rate cut by the Federal Reserve next week rising to nearly 50%. In Europe, the European Central Bank reduced interest rates as anticipated but provided limited future guidance, emphasizing a data-dependent, meeting-by-meeting approach. Domestically, France’s inflation rate was revised down to 1.8% for August, from an initial estimate of 1.9%, marking its lowest level since July 2021. Among the CAC 40 constituents, Renault led with a 2.4% gain, while AXA, Vinci, and Dassault Systèmes each rose by 1.2%. Conversely, Pernod Ricard fell by 2.4%, standing out as one of the few decliners. The CAC 40 posted a 1.7% gain this week.

CAC 40指数周五上涨0.6%，至7485点，交易员仍关注货币政策前景，美联储下周大幅降息50个基点的可能性升至近50%。与此同时，在欧洲，欧洲央行如预期般降息，但对未来的措施提供了有限的指导，重申了一种依赖数据、逐次会议的方法。在国内，2024年8月，法国的通货膨胀率被下调至1.8%，而7月份的初步估计为1.9%和2.3%。这是自2021年7月以来的最低通胀率。在企业方面，雷诺领涨CAC 40指数，其股价上涨近2%，而开云集团上涨约1.8%。相反，达能股价下跌约1.8%，此前杰富瑞将该公司评级从“买入”下调至“持有”，理由是美国咖啡奶精、中国营养产品和水等关键领域的增长放缓。本周，CAC 40指数有望上涨近2%。

The CAC 40 rose 0.6% to 7,485 on Friday as traders remained focused on the monetary policy outlook, with the probability of an aggressive 50bps rate cut by the Fed next week rising to nearly 50%. Meanwhile, in Europe, the European Central Bank cut interest rates as expected but offered limited guidance on future measures, reiterating a data-dependent, meeting-by-meeting approach. Domestically, France's inflation rate was revised lower to 1.8% in August 2024, compared to an initial estimate of 1.9% and a rate of 2.3% in July. This marked the lowest inflation rate since July 2021. On the corporate front, Renault led gains on the CAC 40, with its shares rising nearly 2%, while Kering added about 1.8%. Conversely, Danone shares fell around 1.8% after Jefferies downgraded the firm from "buy" to "hold," citing slower growth in key segments, including U.S. coffee creamers, Chinese nutrition products, and waters. This week, the CAC 40 is on course for a gain of nearly 2%.