CAC 40

Key insight

8,312 stalls in no-man's-land: CAC VIX at 52-week high (18.96), ECB hike risk pressures banks and rate-sensitives; break below 8,200 opens 8,050 quickly.

8,312 holds above 50-day MA (~8,200) but ECB hawkish pivot — eurozone CPI at 3.3% Aug high triggers 25bp hike risk, banking and luxury stocks leading declines.

Main risk

ECB rate hike — Sep 11 decision

Eurozone CPI hit 3.3% in Aug — ECB expected to deliver 25bp hike Sep 11, squeezing rate-sensitive CAC banks and real-estate names.