The Paris Stock Exchange is expected to rise slightly at the opening on Thursday, but the trend will emerge depending on the inflation indicators which must be published for France, the euro zone and the United States throughout the session.
The futures contract for the flagship CAC 40 index advanced by 0.20% around forty minutes before the opening of the session. On Wednesday, it gained 0.24% to finish 7,267.64 points.
The slowdown in inflation in Germany and Spain, as well as the upward revision of growth in the third quarter in the United States, had helped the indices start again after two sessions of slight decline.
Economic data, particularly from Germany, are very positive while the market awaits the publication of inflation for the entire euro zone. All this should help fuel the bullish rally and also reinforce speculation concerning a possible rate cut by the European Central Bank from the second quarter of 2024, explains Christopher Dembik of Pictet AM.
These projections allow the CAC 40 to experience its best month since January (+5.5%).
Numerous meetings must confirm this trend: inflation in November in France and for the euro zone, as well as data on growth in France.
Midway through the session, it will be the turn of the inflation figures in October for the United States, according to the American Central Bank’s favorite indicator, the PCE.
These projections also allowed States’ interest rates to fall sharply, with the rate for the French 10-year loan below 3%, a first since the beginning of September, after a peak of more than 3.50% in the meantime.
Among the values to follow
Remy Cointreau: the spirits group, owner of the Remy Martin and The Botanist brands, weighed down by the drop in its sales in the United States, announced on Thursday a plunge in its profits of almost 50% in the first half of its dcal exercise.
Visiomed: the Sanctions Commission of the French stock market policeman has imposed a fine of 1.2 million euros in total on the biotech and two of its former directors for market manipulation, the Financial Markets Authority announced on Wednesday in a press release.