(CercleFinance.com) – Despite reduced volumes characteristic of the summer period (less than 3 billion euros traded today), the Paris Stock Exchange gained nearly 0.52%, to 6,523 points, boosted by the publication of reassuring figures to inflation in the United States, which ultimately turned out to be lower than expected.
Thus, after a 1.3% increase in June, consumer prices in the United States stagnated in July in sequential fashion, according to the Labor Department, where Jefferies anticipated an increase of around 0 .1% month-over-month.
Excluding energy and food products, two traditionally volatile categories, US inflation stood at +0.3% last month, an increase here too slightly below economists’ expectations.
Compared to July 2021, the US price index rose 8.5% gross and 5.9% excluding volatiles, rates therefore slightly below average market estimates and while Jefferies was anticipating 8.6 % and 6% respectively.
The publication was logically very well received across the Atlantic, where the US indices are up sharply, gaining between 1.7% (Dow Jones) and 2.3% (Nasdaq). A dynamic shared in Europe where the E-Stoxx50 arrogates nearly 1%, with a DAX at +1.3% while London brings up the rear with +0.3%.
Earlier in the day, investors had already been attentive to the final inflation figures in Germany.
According to figures from Destatis, the consumer price index slowed slightly to +7.5% over one year in July, against +7.6% in June, a deceleration which appears insufficient to curb the cycle of rate hike initiated by the ECB.
In addition to inflation in the United States and Germany, investors also learned this afternoon of a 1.8% increase in wholesale inventories in June in sequential fashion in the United States, according to the Commerce Department, after an increase 1.9% the previous month (revised figure from an initial estimate of +1.8%).
Separately, U.S. crude oil inventories rose last week, while gasoline inventories fell, data released Wednesday by the U.S. Energy Information Agency (EIA) showed.
Crude reserves increased by 5.5 million barrels to 432 million, while those of gasoline fell by five million barrels.
Note that a barrel of Brent is now trading for $96 (-0.7%) and that the euro has gained nearly 1.2% against the greenback, to $1.0336.
In very quiet corporate news today, orthopedic company Bone Therapeutics has announced that it will acquire a majority stake in autoimmune disease ‘biotech’ Medsenic, with a view to expand and diversify its therapeutic portfolio.
This transaction should lead to the merger of the activities of Bone and Medsenic, which together will create BioSenic, a new specialty bio-pharmaceutical company.
In addition, Poujoulat posted a turnover for the first quarter (April to June) up by nearly 34% compared to the same period of the 2021-22 financial year, at 69.8 million euros, ‘confirming the dynamics of its markets in a context of energy tension’
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