(BFM Bourse) – The CAC 40 is advancing at mid-session this Friday, still excited by the recent inflation figures. The chairman of the US Federal Reserve will speak at 5 p.m.
The CAC 40 continues its momentum. The Parisian index advanced by 0.43% at mid-session this Friday to 7,342.41 points. For now, the CAC 40 has gained 0.7% over the week.
Investors are reassured by the evolution of inflation in the United States and in Europe, after the inflation figures in the euro zone and the PCE index, the preferred gauge of the American Federal Reserve (Fed) to measure the increase prices, published Thursday.
“The markets are celebrating the stronger-than-expected slowdown in inflation in the euro zone and the United States since the end of the summer, while at the same time economic growth is not collapsing. The stock markets have rebounded by almost 10% in November and long rates returned to their mid-September level”, underlines Xavier Chapard of LBPAM.
>> Access our exclusive graphic analyses, and gain insight into the Trading Portfolio
Worldline supported by press information
Investors will nevertheless monitor the intervention of Fed President Jerome Powell, scheduled for 5 p.m.
On the equity side, Société Générale fell by 0.9%, penalized by a lowering of recommendations from Goldman Sachs to “sell”.
In the same logic, LVMH lost 0.7% while Morgan Stanley went from “overweight” to “online weighting” on the stock.
Conversely, Worldline advances 6%, benefiting from information from Bloomberg that Crédit Agricole SA would seek to take a stake to support the payments group which constitutes its commercial partner. Contacted by the agency, the two companies did not comment.
In other markets, the euro is stable against the dollar. Oil contracts are sluggish after falling the day before following the announcement of OPEC+ production cuts. The February contract for North Sea Brent and the January contract for WTI listed in New York are both almost stable.
The announcements of production cuts from OPEC+ “lack credibility because they were announced after difficult negotiations and concern voluntary cuts by each country rather than a global agreement”, explains Xavier Chapard.
Julien Marion – ©2023 BFM Bourse