(CercleFinance.com) – The CAC40, which quickly rose above 7,400 this afternoon, is stalling a bit: after gaining more than +1% (up to around 7,408 Pts at its highest) it stabilizes around + 0.7% to 7.385.
The CAC40 ‘GR’ approached around 3 p.m. to 0.2% of its historic closing zenith at the end of May: erasing this record seemed like a simple formality before the weekend (tomorrow, the Paris market will be easily manipulated in the absence of a majority of investors who will make the July 14 bridge).
The Euro-Stoxx50 (+0.8%) equaled its absolute closing record of April 21, recorded at 4,408 Pts before settling towards 4,400.
On Wall Street, a good start to the session with a Dow Jones at +0.2%, the S&P500 returned to 4,500 thanks to an increase of +0.5%, the Nasdaq gained +1% to more than 14,000 Pts.
The ‘VIX’ (-1.6%) fell back to 13.3, 2% from its most favorable level of the year while interest rates eased by -8Pts, our OATs returning to around 3.0250 %, the Bunds under 2.47% and the US T-Bonds are content with -4Pts towards 3.8230%.
The ‘fact of the day’ is certainly this new drop in the Dollar which pulverizes a new annual low against the Euro, up +0.5% towards 1.12000 (and 1.1190 around 5 p.m.).
The greenback is weakened by the probability of a second rate hike by the FED in mid-September, which fell in 48 hours from 50% to less than 15%.
‘While the Federal Reserve is likely to raise rates again at the end of this month, these data support our view that this should be the last hike’, Commerzbank reacted after this publication.
The decline in inflation is surprisingly rapid and after a CPI of +3%, the Department of Labor publishes producer prices in the United States up only 0.1% in June compared to the previous month, in raw data as well as excluding food, energy and commercial services.
Over the last twelve months, the increase in producer prices stood at 0.1% in raw data in June and 2.6% excluding food, energy and commercial services, after annual rates of 0.9% and 2.8% observed in May.
There was a figure for the Euro zone this morning: seasonally adjusted industrial production rose 0.2% in May and 0.1% in the EU, compared to April, according to estimates from Eurostat, the statistical office of the European Union.
The dynamics of disinflation also seem to prevail in France, where INSEE confirmed this morning a slowdown in the annual rise in consumer prices to +4.5% for the past month, after +5.1% in May.
In terms of stocks, Carmila won 6.4% around 15.3E after an agreement to acquire 93% of the capital of the property company Galimmo, a potential acquisition which will be carried out simultaneously with that of Cora France by Carrefour (+ 1%), announced at the same time.
Kaufman & Broad climbs nearly 4% after the publication of net income group share up 69% to 38.5 million euros for its first accounting half, for a turnover up 47% to 849 million.
On the other hand, Casino loose nearly 3.5% following a point of the food distributor on its performance in France in the first half, revealed within the framework of the procedure of conciliation with its creditors.
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