The control room of Euronext, the company that manages the Paris Stock Exchange (AFP/Archives/ERIC PIERMONT)
The Paris Stock Exchange ended up 0.84% on Tuesday, setting new records at the close and during the session, after the publication of underlying inflation falling in the United States in February.
The flagship CAC 40 index gained 67.75 points to 8,087.48 points. During the session, it reached a new record at 8,094.07 points, shortly before the close.
On Monday, it lost 0.10%, awaiting the publication of the consumer price index (CPI) in the United States.
American inflation started to rise again in February year-on-year to 3.2% compared to 3.1% in January, according to data from the Labor Department.
Core inflation, which excludes energy and food prices, fell to its lowest since May 2021, to 3.8% over one year, compared to 3.9% in January.
“These figures are not particularly worrying for the Federal Reserve,” according to Christophe Boucher, investment director of ABN AMRO Investment Solutions.
“The overall picture is that inflation is generally falling and there does not appear to be any alarming element jeopardizing the disinflationary trend,” he adds.
In addition, the figures did not reveal any big surprises compared to analysts’ estimates, which is “a good thing because we had had some disappointments in previous months”, comments Vincent Juvyns, member of the JPMorgan strategy team. AM.
On the bond market, interest rates on US loans initially climbed before slowing down.
The interest rate on the ten-year French government bond stood at 2.74% compared to 2.76% at Monday’s close.
For experts, the figures published Tuesday do not call into question a rate cut in June or July by the American central bank, whose monetary policy committee will meet next week.
This publication “is reassuring because it could break the dynamics of the markets and this is not the case, the dynamic is maintained, it is good news”, concludes Vincent Juvyns.
In the euro zone, inflation in Germany fell to 2.5% year-on-year in February, to its lowest level since June 2021, according to final figures published on Tuesday.
Accor buys back its shares
The French hotel group Accor (+1.90% to 41.20 euros) announced Tuesday that it would buy 2.77% of its own shares from the Chinese Jin Jiang, for an amount of 275 million euros, in the framework of its share buyback program.
Following this transaction, Jin Jiang International’s stake in Accor will be reduced from 7.96% to 5.33% of the capital, the press release specifies.
The price per Accor share of this operation is 39.22 euros, “i.e. a discount of 3.0% compared to the closing price of March 11, 2024 of 40.43 euros,” detailed the group.
Affluent Medical appeases investors
The French medical technology company Affluent Medical announced on Tuesday the implantation in a man of a new model of artificial urinary sphincter to treat incontinence, a success which caused its share price to climb by 13.13% to 1.81 euros. .
© 2024 AFP
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