The Paris Stock Exchange ends sluggish (+0.07%) after US inflation

The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)

The Paris Stock Exchange ended without a pronounced trend on Tuesday, after a volatile session marked by a more moderate than expected slowdown in US inflation in January.

After a first part of the session on the rise, the Parisian rating rose above 7,266 points just after the publication of American consumer prices, before falling back to the level of 7,206 points, then ending close to equilibrium at 7,213 .81 points.

Investors want to see “the glass half full” by attaching importance to “the continuation of the disinflation trend” and “are not more worried than that about the prospects for rate hikes”, comments Elisabeth Mourgues-Fontaine , portfolio manager at Indosuez Gestion.

Consumer prices in the United States rose 6.4% in January year on year, against 6.5% in December, according to the CPI index published on Tuesday. The slowdown is however weaker than expected, since analysts were counting on 6.2%.

One-month inflation delivered bad news, accelerating again for the first time since September. It climbed to 0.5% from 0.1% last month – according to data revised up from the initial release.

“This proves that normalization does not happen in a linear fashion,” observes the expert interviewed by AFP, stressing that “the American central bank will probably have to raise its rates further”.

Faced with these elements, she notes that the reaction of the bond market was “surprisingly contained”, particularly on the yields of two-year sovereign bonds, the most sensitive to monetary policy expectations.

Mixed mood in the media

The title of TF1 lost 3.99% to 7.22 euros after falling more than 12% at the opening. The group saw its net profit fall by 21.8% in 2022, to 176 million euros, despite a 3% increase in sales.

Like its competitor M6, the TF1 group had to include in its accounts 46 million euros of charges linked to the losses of the financial year and the forthcoming disappearance of the Salto streaming platform, owned equally by the two private groups and France. Televisions.

In other sectors

Orpea fell 3.63% to 2.95 euros after signing the agreement which will allow a group led by Caisse des dépôts to take control following a financial restructuring of the group of retirement homes. , in turmoil for a year.

Thales (+1.96% to 127.45 euros) continued to benefit from the geopolitical tensions of the moment.

The energy sector was well oriented: TotalEnergies gained 0.74% to 59.98 euros, despite the drop in oil prices. Engie took 0.84% ​​to 13.24 euros.

© 2023 AFP

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