(CercleFinance.com) – The Paris Stock Exchange lost 0.4% this morning, around 7,660 points, penalized by STMicro (-2.2%) and Alstom (-2.1%) despite the jump in Michelin (+6 .9%) after its results published last night (see below).
Investors are now looking across the Atlantic, where the US inflation figures, always eagerly awaited, will be published early this afternoon, at 2:30 p.m.
Helped by a favorable base effect, the consumer price index (PCI) should come out just below the threshold of 3% over one year in January, the lowest since the start of 2021.
In recent weeks, the evolution of inflation has been a lesser factor of concern for investors, who are more focused on the strength of activity and the good results of companies.
But the strength of macroeconomic data could also suggest more persistent inflation than expected, which leads investors to push back the horizon of a first rate cut by the Federal Reserve.
‘It certainly won’t be in March and it seems to be less and less likely in May,’ says Christopher Dembik, investment strategy advisor at Pictet Asset Management.
‘The market will have to wait before seeing the pivot,’ warns the analyst.
In this context, the markets have adopted a slightly more cautious position regarding the timing of the first rate cuts by central banks, now scheduled for June for both the Fed and the ECB.
Investors will also follow, during the morning, the publication of the ZEW business climate index in Germany, which will allow us to know whether the largest European economy is on the verge of emerging from the ford.
In France, the unemployment rate in France (excluding Mayotte) as defined by the ILO (International Labor Office) stood at 7.5% of the active population in the last quarter of 2023, stable compared to the third quarter, the estimate of which is increased by 0.1 point to 7.5%.
In French company news, Fnac Darty announces that the Supreme Court of London has definitively closed the litigation linked to the sale of Comet Group Limited in 2012.
Wendel denied on Tuesday any entry into the capital of the insurance brokerage group Diot-Siaci, affirming that it had not concluded any transaction on the capital of the company.
The Airwell Group announces its acquisition of a 13% stake in Synerpod, a French start-up which aims to scale up the energy renovation of collective and individual housing.
Finally, Believe shares gained nearly 19% this morning, to get closer to the level corresponding to the price proposed by a consortium with a view to taking control of the group.
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