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%.

在巴黎，CAC 40指数周一上涨74点，涨幅0.94%。涨幅最大的是开云集团（5.64%）、泰雷兹（4.75%）和意法半导体（3.85%）。最大的损失来自Edenred（-4.41%）、Cap Gemini（-2.22%）和达索系统（-1.67%）。

In Paris, the CAC 40 Index went up by 74 points or 0.94 percent on Monday. Top gainers were Kering (5.64%), Thales (4.75%) and STMicroelectronics (3.85%). Biggest losses came from Edenred (-4.41%), Cap Gemini (-2.22%) and Dassault Systemes (-1.67%).

法国10年期政府债券收益率周一跌至3.49%，此前曾短暂触及3.516%的一周高点，因为投资者的注意力从该国的信用评级下调转向了一周的央行会议。由于对其独立性的担忧，预计美联储周三将降息至少25个基点，因为政策制定者在劳动力市场降温与关税驱动的通货膨胀之间取得了平衡。与此同时，英格兰银行和日本银行被视为保持借贷成本稳定。在国内，惠誉评级将法国的主权信用评分从AA-降至A+，这是有记录以来的最低水平，理由是政治不稳定和债务上升。就在几天前，法国总统埃马纽埃尔·马克龙任命了两年来的第五位总理，此前弗朗索瓦·贝鲁辞职，贝鲁未能获得对一揽子增税和削减开支计划的支持。

France’s 10-year government bond yield slipped to 3.49% on Monday after briefly touching a one-week high of 3.516%, as investor focus shifted from the country’s credit rating cut to a packed week of central bank meetings. The US Federal Reserve is expected to lower rates by at least 25 basis points on Wednesday amid concerns over its independence, as policymakers balance a cooling labor market against tariff-driven inflation. Meanwhile, the Bank of England and the Bank of Japan are seen holding borrowing costs steady. Domestically, Fitch Ratings cut France’s sovereign credit score to A+ from AA-, the lowest on record, citing political instability and rising debt. The move came just days after President Emmanuel Macron appointed his fifth prime minister in two years, following the resignation of François Bayrou, who failed to secure support for a package of tax hikes and spending cuts.

巴黎CAC 40指数周一开盘上涨0.3%，收于7860点，延续了上周的势头，尽管惠誉以债务上升和政治不稳定为由将法国的长期信用评级从AA-下调至A+。本周投资者关注的焦点是央行的决策，市场普遍预计美联储将降息25个基点，而日本央行和英格兰银行将保持政策稳定。在股票方面，威立雅股价上涨0.2%，此前威立雅与SATORP签署了一项5亿美元的协议，与马拉菲克和拉马尔一起，在中东最大的石化中心朱拜勒建造一座大型工业废水回收厂。意法半导体（+1.3%）、Stellantis（+0.9%）、开云集团（+0.7%）和泰雷兹集团（+0.70%）也支撑了涨幅。

Paris’s CAC 40 opened 0.3% higher at 7,860 on Monday, extending last week’s momentum even after Fitch cut France’s long-term credit rating to A+ from AA-, citing rising debt and political instability. Investor focus this week is on central bank decisions, with markets widely expecting the Federal Reserve to deliver a 25-basis-point rate cut, while the Bank of Japan and the Bank of England are seen holding policy steady. In stocks, Veolia rose 0.2% after signing a $500 million deal with SATORP, alongside Marafiq and Lamar, to build a large-scale industrial wastewater recycling plant in Jubail, the Middle East’s largest petrochemical hub. Gains were also supported by STMicroelectronics (+1.3%), Stellantis (+0.9%), Kering (+0.7%), and Thales (+0.7%).