The star CAC 40 index lost 26.09 points to 7,055.92 points around 10 a.m.

On Monday, the Parisian market started the week on a cautious note, falling 0.21%.

Today's agenda is loaded with macroeconomic indicators, particularly in the euro zone.

In France, growth in gross domestic product (GDP) reached 2.6% in 2022, marked however by a slowdown in the fourth quarter (+0.1%) due to a sharp 1.3% decline in the household consumption in December.

“While the economy is doing better than expected and is escaping recession, the peak of inflation is yet to come,” comments Charlotte de Montpellier, economist at ING.

The rise in consumer prices accelerated slightly in January, with the inflation rate reaching 6% over one year after 5.9% in December, according to an initial estimate by INSEE.

Charlotte de Montpellier believes that "the French economic outlook is uncertain but far from dramatic".

Later in the morning, investors will take note of the growth of the euro zone in the fourth quarter, a key figure in the context of fears of recession.

In China, on the other hand, manufacturing activity experienced an unexpected rebound in January after four months of contraction, thanks to a recovery in activity since the lifting of health restrictions.

According to the IMF, which raised its forecasts on Monday, global growth of 2.9% is expected in 2023, the specter of a recession receding in Germany and Italy, and more broadly, in the euro zone, while the reopening of China should support the economy.

This week's meetings of the US and European central banks are also on the minds of investors.

A slowdown in rate hikes in the United States is widely expected from the Federal Reserve (Fed), with an increase of 0.25 percentage point.

The European Central Bank (ECB) could continue its momentum with a rate hike of 0.5 percentage point.

To add a little more to the nervousness of the trading rooms, a new wave of corporate results will be published on Tuesday.

Seb energized

The French small appliance giant Seb climbed 6.93% to 94.95 euros, after announcing results on Monday that exceeded analysts' expectations.

Its provisional turnover fell slightly by 1.2% in 2022, but Seb is a little more confident about its profitability.

© 2023 AFP