2023-10-12 07:45:10
Paris (AFP) – The Paris Stock Exchange opened on a positive note on Thursday, with investors awaiting the publication of data on inflation in the United States, the day after the publication of the minutes of the last meeting of the central bank American (Fed).
Published on: 10/12/2023 – 09:45 Modified on: 10/12/2023 – 09:43
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The flagship CAC 40 index gained 0.22%, or 15.64 points to 7,146.85 points around 9:30 a.m. On Wednesday, the Parisian rating fell by 0.44%, to 7,131.21 points, weighed down by the fall of LVMH (-6.46%), heavyweight of the CAC 40, whose third quarter results were less good than ‘expected.
Investors are catching their breath after the previous day’s decline, notably supported by the publication of the “Fed minutes”, the report of the last monetary policy meeting of the powerful American institution.
“Several” Fed officials “noted that (…) decisions and communications” from the institution “should focus more on the duration of maintaining the key rate at restrictive levels rather than on the level of increase in the key rate”, reports the minutes of the last meeting of the Fed, on September 19 and 20, published Wednesday, after the close of the markets.
“Overall, these minutes reduce the likelihood of a rate hike in November, as the Fed appears reluctant to make changes without clearer economic signals from upcoming data,” conclude economists at Natixis Research.
Investors’ attention will therefore be focused on the publication of the consumer price index (CPI) for September (at 12:30 GMT), as this data plays a crucial role in the evolution of the monetary policy of the American institution.
After starting to rise again this summer, it should resume its decline, and settle at 3.6% over one year, against 3.7% last month, according to the MarketWatch consensus.
Airbus helped by Easyjet
British airline Easyjet announced on Thursday a proposed agreement for the purchase of 157 Airbus aircraft and the conversion of 35 others, a transaction that represents nearly $20 billion in total, according to a press release.
The announcement benefited Airbus shares, which gained 0.36% to 126.66 euros around 9:30 a.m.
Legrand: disposals in Russia
The French manufacturer of electrical equipment Legrand (+0.57% to 88.10 euros) announced on Thursday the sale, effective at the beginning of October, of its Russian activities to a local Russian industrialist.
Orpea unscrews
The group of private nursing homes, engaged in a procedure to regain financial balance, suffered a net loss of 371 million euros in the first half, its margin having been affected by investments and an increase in costs linked to the inflation, he announced on Wednesday.
Orpea fell 10.98% to 1.31 euros.
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