FX.co ★ CAC 40 Slides As Investors Await Fed Meeting Outcome

Wednesday saw a decline in French stocks, as traders anticipated the Fed's decision on interest rates due later in the day, and the BOE rate verdict on Thursday. No significant alterations are foreseen from the Fed, yet the dot plot forecasts may provide insights into future interest rate adjustments.

The key CAC 40 Index fell by 68 points, marking a 0.8% decrease, falling to 8,132, despite a 0.7% rise on the previous day, Tuesday.

Notably, the lender Credit Agricole experienced a slight decline. Similarly, the financial service provider Worldline also fell by 1.2% after announcing a collaboration with Credit Agricole to offer digital payment solutions to French merchants.

In the biotech realm, Valneva, a biotechnology firm, saw a significant decline of 2.6% after revealing a net deficit of 101.4 million euros for the financial year 2023. Significantly, the company's annual total revenues fell to 153.7 million euros, a significant fall from 361.3 million euros reported in 2022.