Paris stock market recovers on slowing US inflation

Paris stock
Paris stock

Paris stock market recovers on slowing US inflation

The Paris stock market rose sharply on Tuesday, up 1.42%, after taking a breather in the middle of the session with lower-than-expected US inflation numbers.

The Star CAC 40 rose 94.43 points to 6.744,98 after jumping more than 2% in the session to reach its highest level since late March. It fell 0 0,41% the previous day and ended in the red for the fifth time in six sessions.

 The US Consumer Price Index (CPI) slowed to 7.1% annually in November from 7.7% in October. It is now at its lowest level since December 2021.

 In one month, prices rose by just 0.1%, compared to 0.4% in October. Analysts had expected 7.3% for the year and 0.2% for the month, according to the MarketWatch consensus.

 Very encouraging figures for the dynamics of inflation in the medium term for analysts at RichesFlores. “The slowdown is the first tangible step forward for the US Federal Reserve,” they wrote in a note, asserting: “The outlook for 2023 remains too uncertain to lower our guard.”

As reporteted buy laminute.info on Tuesday, the American central bank (Fed) began its meeting ending Wednesday, during which it should decide to start a new phase in the fight against inflation and increase the basic interest rate less sharply than in recent months.

Interest rates are expected to rise by half a percentage point after four very strong three-quarter point increases.

 The attention of investors will also be attracted by the meetings of the European Central Bank and the Bank of England on Thursday.

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 Engie Accused of Cartel

 The share price of Engie was terribly affected (-0.29% – 1

.35 euros) by the investigation launched by the competition police in Italy against seven energy groups, including the French Engie and the Italians Enel and Eni , who are suspected of making “illegal unilateral changes” in the prices of electricity and gas.

 Elior was well served by Citi.

 Shared services group Elior rose by 11.56% to 3.45 euros after a positive note from Citi bank. Derichebourg, which took a large part of the group, rose by 6.62% to 5.80 euros.

BNP Paribas (1.80% – 53.63 euros) is consolidating its unlisted asset operations into a new division with the aim of becoming Europe’s leading player in private wealth management, the bank announced. on tuesday

shahnaz zulfqar
Contact me for guest post at marksteven002679@gmail.com

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