FX.co ★ French Stocks Open Higher Despite Fitch Downgrade

On Monday, the CAC 40 index in Paris witnessed a 0.3% rise, reaching 7,860, a continuation of the momentum observed the previous week. This increase occurred despite Fitch's downgrade of France's long-term credit rating to A+ from AA-, due to concerns over rising national debt and political instability. Investors are now turning their attention to a series of central bank meetings, with widespread anticipation that the Federal Reserve will implement a 25-basis-point rate cut. Meanwhile, the Bank of Japan and the Bank of England are expected to maintain their current policies. In terms of stock movements, Veolia saw a 0.2% increase following a $500 million agreement with SATORP, Marafiq, and Lamar to construct a significant industrial wastewater recycling facility in Jubail, regarded as the largest petrochemical hub in the Middle East. The index was also buoyed by gains in STMicroelectronics (+1.3%), Stellantis (+0.9%), Kering (+0.7%), and Thales (+0.7%).