(CercleFinance.com) – The Paris stock market ends the session with a gain of 0.21%, at 7,549 points, ignoring the decline on Wall Street, where S&P500, Dow Jones and Nasdaq are currently down 0.2%.
This morning, operators were able to take note of the final Eurostat data on the consumer price index in the euro zone. Inflation stands at 6.9% in March 2023, against 8.5% in February. In the EU, it stands at 8.3%, against 9.9% in February.
The lowest annual rates were observed in Luxembourg (2.9%), Spain (3.1%) and the Netherlands (4.5%) and the highest were recorded in Hungary ( 25.6%), in Latvia (17.2%) and in the Czech Republic (16.5%).
In the euro area, the largest contributions to the annual inflation rate came from food, alcohol and tobacco (+3.12 percentage points, pp), followed by services (+2.10 pp), industrial goods excluding energy (+1.71 pp) and energy (-0.05 pp).
Although the peak of inflation in the region was probably reached last fall, the process of disinflation looks set to be slow and the strength in food prices could have a negative impact on consumption.
Still on the statistics front, the U.S. Energy Information Agency (EIA) reported that crude inventories hit 466 million barrels during the week of April 10 in the U.S., signaling a decline of 4.6 million barrels compared to the previous week.
For their part, inventories of distillate products – including heating oil – fell by 0.4 million barrels, while gasoline inventories increased by 1.3 million barrels, still compared to the previous week.
The EIA says the refineries operated at 91% of their operational capacity during the same week, with an average production of 9.5 million barrels/day.
World markets still do not seem to be alarmed by a recession: the ‘VIX’ falls to penny 17 on Wall Street, while a slowdown in activity should materialize in the United States before the end of the year , an unattractive outlook for equities.
In this sense, the quarterly corporate results season which began last week promises to be tough for investors who would like to be reassured by the forecasts of listed companies.
On the bond front, our OATs added +4pts to 3.006% (+50pts in 3 weeks), Bunds +3.5pts to 2.5050% and US T-Bonds +5pts to 3.625%.
In the news of French companies, Bolloré confirms that its board of directors, meeting on Tuesday, approved the launch of a draft simplified public purchase offer (OPAS) targeting its own shares, a project announced on March 14. .
Worldline and Crédit Agricole announce the signing of a non-binding exclusive negotiation agreement for a strategic partnership that would ‘create a major player in services for merchants in France’.
Alstom announces that it has been chosen by the Eurometropolis of Strasbourg and the CTS to supply the new tramway trains for the Strasbourg network, under a framework agreement for eight years and for a maximum amount of 250 million euros.
Veolia would like to sell Sade, its French subsidiary specializing in the design, construction, rehabilitation and maintenance of water networks and structures, according to Bloomberg.
Finally, the European Commission has cleared under the EU Merger Regulation the acquisition of sole control of Total Eren Holding by TotalEnergies SE.
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