The Paris Stock Exchange ended sharply up 1.42% on Tuesday, after a breath of fresh air brought in the middle of the session by lower than expected US inflation figures for November.
The star CAC 40 index gained 94.43 points to 6,744.98 points, after jumping more than 2% in session and reaching its highest since the end of March. The day before, it had fallen by 0.41%, ending in the red for the fifth time in six sessions.
The US consumer price index (CPI) slowed to 7.1% in November year on year, from 7.7% in October. It is now at its lowest since December 2021.
Over one month, prices only increased by 0.1%, against 0.4% in October. Analysts were expecting 7.3% year on year and 0.2% month on month, according to MarketWatch consensus.
Very encouraging figures concerning the dynamics of inflation in the medium term for the analysts of the firm RichesFlores. “The slowdown represents, for the American Federal Reserve, a first tangible step forward”, they write in a note, while qualifying: “Still, the outlook for 2023 is too uncertain to lower our guard”.
The US Federal Reserve (Fed) began a meeting on Tuesday, which will end on Wednesday, during which it should decide to begin a new phase in its fight against inflation and raise its rates less sharply than in recent years. month.
An increase in the key interest rate of half a percentage point is expected, after four very strong hikes of three quarters of a point.
Investors’ attention will also be occupied by the meetings of the European Central Bank and the Bank of England on Thursday.
Engie accused of agreement
The Engie share price was fearfully affected (-0.29% to 14.35 euros) by the opening in Italy of investigations by the competition police against seven energy groups, including the French Engie and the Italians Enel and Eni, suspected of having made “illegal unilateral changes” to electricity and gas prices.
Elior well served by Citi
The collective catering group Elior climbed 11.56% to 3.45 euros after a positive rating from Citi bank. Derichebourg, which has taken a large stake in the group, gained 6.62% to 5.80 euros.
BNP in the unlisted
BNP Paribas (+1.80% to 53.63 euros) will bring together in a new division its activities related to unlisted assets, “with the ambition of becoming a leading European player in the field of private asset management “, the bank announced on Tuesday.