After reaching a new peak in session at 7,552 points shortly after the opening, the flagship CAC 40 index dropped 0.28% to 7,498.18 points.
Luxury stocks, which contributed strongly to last week's series of records, fell on Monday: LVMH fell 2.15% to 873.60 euros, Kering 1.41% to 567.90 euros and Hermès 1.88% to 1,937.80 euros.
This week, market participants will turn their attention to the results of L'Oréal on Wednesday, before those of Renault or EssilorLuxottica on Thursday.
Despite risks to growth, investors are still betting on another modest increase in the key rate of the US central bank (Fed) in early May, which wants to bring inflation down to 2%.
Investors will have more information on the state of the U.S. economy after the Fed's latest report — the Beige Book — which will be released on Wednesday.
In the euro zone, European Central Bank President Christine Lagarde acknowledged on Sunday that the recent banking crisis could be part of the institution's work to reduce inflation, deeming it essential to observe to what extent banks tighten credit conditions or not.
On the value side, Renault dropped 3.92% and Stellantis 1.07% while Barclays lowered its recommendation to "negative" against "neutral" previously for the European automotive sector.
The European manufacturer Airbus and the company Air France, prosecuted for manslaughter after the crash in 2009 of flight AF447 Rio-Paris that killed 228 people, were acquitted Monday in Paris. Airbus shares rose 1.43% and Air France-KLM 2.07%.
In addition, the mandatory annual negotiations (NAO) within Airbus in France have resulted in an agreement on a 5.5% increase in wages from July 1, we learned from Force Ouvrière (FO), the first union within the group in France.
© 2023 AFP