(CercleFinance.com) – The Paris Stock Exchange ended the session with a gain of 1.96%, to 6,556 points, notably driven by the dynamism of STMicro (+7.8%); Dassault Systèmes (+7.7%) or Worldline (+7%). The Parisian index mainly benefited from the euphoria that gripped the markets at 2:30 p.m. after the publication of inflation figures (CPI, the American consumer price index) below expectations in October in the United States. United.
The ‘CPI’ rose only 0.4% instead of +0.6% according to the Department of Labor, or +7.7% at an annualized rate, its lowest annual rate since last January.
Excluding energy (+17.6%) and food products (+10.9%), two traditionally volatile categories, the sequential increase stands at +0.3% and the annual inflation rate stands at 6, 3% last month, a level again a little lower than that anticipated by Jefferies (+6.5%, after +6.6% in October).
At the end of the morning, the Dow Jones climbed 2.7% to 33,396 points, while the Nasdaq Composite climbed 5.7% to 10,945 points.
Weekly jobless claims in the US rose by +5,000 last week, but that could change dramatically this week with tens of thousands of layoffs announced by tech and social media giants (Meta, Intel, Twitter, Twillio, etc.).
Today’s figures boost investors’ hopes that the Fed will finally begin to slow its rate hike cycle as early as December, ‘final rate’ expectations drop sharply 5% to 4.50/4.60 %, which is huge actually.
The yield of the ‘1 year’ fell from 4.75% to 4.35%, the ’10 years’ from -17Pts to 3.87%.
In Europe, our OATs posted -20pts at 2.49%, Bunds -18.5pts at 1.995% (back below the psychological threshold of 2%), Italian BTPs -26pts at 4.015%.
The euro continues to rise against the greenback and is now trading against $1.0172.
Gold also benefits from the sudden easing of rates with +2.2% towards $1,750, silver takes +1.5% towards $21.7/Oz.
In the news of values, on the occasion of its quarterly, Engie (+ 4%) indicates to raise its 2022 objectives to now target a net recurring result group share (RNRpg) of 4.9 to 5.5 billion euros, based on indicative ranges of EBITDA of 13.2-14.2 billion and EBIT of 8.5-9.5 billion.
Conversely, Teleperformances fell -33% to 175E following the opening of an investigation into its social practices in Colombia (salaries at $10/day, pressure on union members, etc.).
Arkema (+4.7%) publishes net current income of 260 million euros for the third quarter of 2022 (compared to 258 million a year earlier), i.e. 3.52 euros per share, and a slight increase in EBITDA of 4 .4% to 495 million, a margin of 16.7%.
Crédit Agricole SA (-2.5%) publishes underlying net income group share of 1.27 billion euros, down 10%, for the third quarter of 2022, and gross operating income below assets of 2.19 billion, down 4.3% (-5.1% pro forma for Creval and Lyxor).
Finally, ArcelorMittal (+2.5%) publishes net income of nine billion dollars for the first nine months of 2022, against 10.9 billion a year earlier, as well as an EBITDA down by just over 10 % to $12.9 billion.
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