(CercleFinance.com) – Despite extremely reduced volumes – less than 1.6 MdE exchanged since this morning – the Paris Stock Exchange gained nearly 0.6%, around 6,530 points, boosted by reassuring inflation figures in United States, which ultimately turned out to be lower than expected.
Thus, after a rise of 1.3% in June, consumer prices in the United States stagnated in July in sequential rhythm, according to the Labor Department, where Jefferies anticipated an increase of around 0 .1% month-on-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.
In this period of summer break, the reaction of the markets to the inflation figures should prove crucial for the performance of the stock markets.
The US indices are also up sharply, gaining between 1.5% (Dow Jones) and 2.3% (Nasdaq).
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.
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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