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CAC40: up slightly after mixed indicators


(CercleFinance.com) – After gaining up to 0.7% at midday, the Paris Stock Exchange is now content with a gain of 0.3%, around 6,545 points.

With the end of the earnings season, investors are now focusing on the release of economic statistics.

They were thus able to find out today the annual inflation rate in the euro zone. This stood at 8.9% in July, against 8.6% in June, and that of the European Union at 9.8%, after 9.6% in June, according to Eurostat which confirms hence its end-of-July flash estimate for the euro zone.

The lowest annual rates were observed in France, Malta (6.8% each) and Finland (8.0%) and the highest were recorded in Estonia (23.2%), Latvia (21.3%) and Lithuania (20.9%).

In addition, in the United States, manufacturing activity in the Philadelphia region returned to the expansion zone in August, according to the local Fed index which comes out at +6.2 for the current month, after falling to -12.3 last month.

This sharp rise in the index from one month to the next comes when economists on average hoped for an increase in the index only towards the -3.3 that it had posted for the month of June.

Finally, it should be noted that after two weeks of increase, weekly jobless claims fell slightly again the week of August 8 in the United States, settling at 250,000, against 252,000 (revised figure ) the previous week, according to figures from the Labor Department.

Finally, the index of leading indicators fell for the fifth consecutive month in July, the Conference Board announced on Thursday, a bearish series that reinforces the risks of a recession in the coming months.

This so-called ‘precursor’ index fell by 0.4% to 116.6 last month, after having already fallen by 0.7% in June.

‘Consumer pessimism and stock market volatility, along with a slowdown in the job market, residential construction and industrial orders suggest that the weakness in activity will intensify and spread more broadly to the rest of the American economy,” predicts Ataman Ozyildirim, director of economic research at the Conference Board.

In this context, Wall Street opened slightly lower, with the Dow Jones yielding 0.3%, while the Nasdaq and the S&P500 yielded 0.1%.

In securities news, Valneva announces that the United States Department of Defense (DoD) has decided not to exercise the second annual contract option for the supply of its Japanese encephalitis (JE) vaccine Ixiaro, deeming its inventories enough for their current needs.

Parrot indicates that it has reached an agreement with AeroVironment, concerning the sale of its 47.2% stake in Planck Aerosystems, a company based in San Diego (California) in which Parrot had initially invested in 2016.

Onxeo announces that its combined general meeting has adopted all the resolutions presented by its board of directors, including the withdrawal of the shares from listing on the Nasdaq First North market in Copenhagen.

Finally, the concert composed of Martin and Olivier Bouygues, their families, as well as the companies they control, declared to the AMF to have exceeded, on August 11, the threshold of 25% of the capital of Bouygues and to hold 25.02 % of the capital and 29.37% of the voting rights of the conglomerate.

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