The Paris Stock Exchange fell 0.14% in early trading on Wednesday, with investors remaining on their guard before the publication of inflation in the United States in August, expected to accelerate significantly compared to July.
The flagship CAC 40 index fell by 10.33 points to 7,242.55 points around 9:30 a.m., making up for a good part of its opening losses (-0.39%). On Tuesday, it lost 0.35%.
Investors are preparing for US inflation data, with the CPI indicator, 2:30 p.m. The price increase in August should be the largest since June 2022, in particular due to the impact of the rise in gasoline prices, warn Deutsche Bank analysts.
The pressure from oil prices on activity continues, with black gold prices reaching their highest level in 10 months, with Brent well above $90 per barrel.
Faced with the persistence of inflation, both in Europe and in the United States, on both sides of the Atlantic, the market seems to have well integrated the idea of the persistence of restrictive monetary policies, estimates Sebastian Paris Horvitz, director of the search for Banque Postale AM.
Today’s inflation data will be used at the US Central Bank meeting next week.
In Europe, the Central Bank (ECB) meets on Thursday. It must achieve a balancing act by taking into account persistent inflation but also the weakness of economic activity in the coming months.
Franois Rimeu, strategist at Franaise AM, therefore expects the institution to maintain a less than accommodating tone while keeping rates unchanged.
Crossroads attacked in a book
Unbalanced contracts, wholesale prices too high: Carrefour (-1.10% 17.06 euros) is accused in a book which appears Wednesday of bad manners towards the managers of its stores operated under franchise, which it contests in highlighting the high number of candidates for this type of exploitation.
Tech declines after Apple
Companies in the technology sector fell overall on Wednesday, the day after the presentation of Apple’s new iPhone which did not arouse investor enthusiasm.
Dassault Systmes fell by 1.02% to 35.27 euros, Teleperformance by 0.91% to 124.80 euros, Capgemini by 0.59% to 168.25 euros.
Partouche welcomes more people
The casino group (-1.34% 22.10 euros) saw its turnover increase by 4.1% in the third quarter of its financial year deferred from 2022-2023, thanks to an increase in attendance at its establishments. Gross gaming product (GRP), or the difference between players’ stakes and their winnings, increased by 6.5% to 178.7 million euros over the quarter.