LIVE MARKETS-Before the bell: French stocks shrug off Fitch

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BEFORE THE BELL: FRENCH STOCKS SHRUG OFF FITCH

European shares were set for a slightly positive start on Monday, kicking off a week packed with central bank meetings — including in the United States, where the Federal Reserve is widely expected to begin cutting rates on Wednesday amid a historic leadership challenge.

French stocks were poised for moderate gains, showing limited reaction to Fitch’s downgrade of France’s sovereign credit rating to its lowest level on record.

Futures on the CAC 40 .FCHI, which has already underperformed its regional peers this year, were up around 0.2%. Shares in banks SocGen SOGN.PA, BNP BNPP.PA and Credit Agricole CRAP.PA were last trading between a 0.4% fall and a 0.6% gain in the premarket.

EuroSTOXX and DAX futures both added around 0.4%, while FTSE contracts were broadly unchanged. The Bank of England also meets this week. While rates are expected to remain on hold following August’s cut, the central bank is likely to slow the pace at which it reduces its holdings of government bonds.

In corporate news, offshore wind developer Orsted ORSTED.CO set the price for its $9.42 billion rights issue, offering shares at a 66.7% discount to Friday’s closing price.

In Britain, electronics retailer AO World AO.L lifted its fiscal 2026 profit forecast, supported by robust growth in its business to consumer operations.

(Danilo Masoni)

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