在巴黎，CAC 40指数周二下跌79点，跌幅1.00%。法国兴业银行（-3.74%）、欧莱雅（-2.87%）和布伊格（-2.69%）领跌。抵消跌幅，涨幅最大的是开云集团（3.13%）、依视路（1.69%）和凯捷集团（1.65%）。

In Paris, the CAC 40 Index dropped 79 points or 1.00 percent on Tuesday. Losses were led by Societe Generale (-3.74%), L'Oréal (-2.87%) and Bouygues (-2.69%). Offsetting the fall, top gainers were Kering (3.13%), Essilor (1.69%) and Cap Gemini (1.65%).

巴黎CAC 40指数周二下跌1%，收于7818点，在连续六个交易日上涨后暂停，该指数跌至8月22日以来的最高水平。投资者的注意力转向了从今天开始的美联储为期两天的政策会议，市场普遍预计将降息25个基点，这是9个月来的首次降息。在个人板块中，金融板块跌幅最大，安盛、法国农业信贷银行和法国兴业银行下跌1.7%至3.6%，而法国巴黎银行下跌1.4%，尽管重申了看涨前景，预计到2025年净收入将超过122亿欧元，目标是到2026年ROTE达到12%，这得益于强劲的势头和第二季度的稳健业绩。在其他地方，欧莱雅股价下跌2.9%，此前杰富瑞将这家法国化妆品巨头的评级从“持有”下调至“表现不佳”

Paris’s CAC 40 fell 1% to close at 7,818 on Tuesday, pausing after a six-session winning streak that pushed the index to its highest level since August 22. Investor focus shifted to the US Federal Reserve’s two-day policy meeting beginning today, with markets broadly expecting a 25-basis-point rate cut—the first in nine months. Among individual movers, the financial sector was among top decliners with AXA, Credit Agricole, and Societe Generale losing between 1.7% and 3.6%, while BNP Paribas slipped 1.4% despite reaffirming a bullish outlook, projecting net income above €12.2 billion by 2025 and targeting a 12% ROTE by 2026, supported by strong momentum and solid Q2 results. Elsewhere, L’Oréal fell 2.9% after Jefferies downgraded the French cosmetics giant’s rating from “Hold” to “Underperform.”

法国10年期政府债券收益率攀升至3.49%，追随欧洲同行的涨势，此前德国和欧元区投资者情绪意外改善。市场正在为央行忙碌的一周做准备。人们普遍预计美联储将恢复其宽松周期，在暂停9个月后，预计将至少降息25个基点。与此同时，预计英格兰银行和日本银行将保持借贷成本不变。最近的欧洲数据表明，经济稳步增长，风险可控，而欧洲央行则表示其降息阶段可能即将结束。在国内，投资者似乎对惠誉周末下调主权信用评级基本不感到担忧。

France’s 10-year government bond yield climbed to 3.49%, tracking gains across European peers after investor sentiment in Germany and the broader Eurozone unexpectedly improved. Markets are bracing for a busy week of central bank activity. The US Federal Reserve is widely expected to resume its easing cycle, with at least a 25-basis-point rate cut anticipated following a nine-month pause. Meanwhile, the Bank of England and the Bank of Japan are expected to keep borrowing costs unchanged. Recent European data point to steady growth with manageable risks, while the ECB signals that its rate-cutting phase may be coming to an end. Domestically, investors appeared largely unfazed by Fitch’s sovereign credit rating downgrade over the weekend.

巴黎CAC 40指数周二小幅下跌0.2%，至7880点，此前该指数连续六个交易日上涨，达到8月22日以来的最高水平。投资者的注意力转向了从今天开始的美联储为期两天的政策会议，市场普遍预计将降息25个基点，这是9个月来的首次降息。在个人投资者中，法国巴黎银行下跌0.2%，尽管重申了看涨的前景，预计到2025年净收入将超过122亿欧元，到2026年的ROTE目标为12%，这得益于强劲的势头和稳健的第二季度业绩。开云集团上涨1.7%，凯捷集团上涨0.8%，泰雷兹集团上涨0.7%。不利的一面是，欧莱雅下跌2.3%，此前杰富瑞将这家法国化妆品巨头的评级从“持有”下调至“表现不佳”。必维国际检验集团下跌1.9%，Teleperformance下跌0.3%。

Paris’s CAC 40 edged down 0.2% to 7,880 on Tuesday, pausing after a six-session winning streak that pushed the index to its highest level since August 22. Investor focus shifted to the US Federal Reserve’s two-day policy meeting beginning today, with markets broadly expecting a 25-basis-point rate cut—the first in nine months. Among individual movers, BNP Paribas slipped 0.2% despite reaffirming a bullish outlook, projecting net income above €12.2 billion by 2025 and targeting a 12% ROTE by 2026, supported by strong momentum and solid Q2 results. Kering gained 1.7%, Capgemini rose 0.8%, and Thales advanced 0.7%. On the downside, L’Oréal fell 2.3% after Jefferies downgraded the French cosmetics giant’s rating from “Hold” to “Underperform.” Bureau Veritas lost 1.9%, and Teleperformance eased 0.3%.