The Paris Stock Exchange rose 0.30% in early trading on Wednesday as investors await the decision of the US Central Bank on its rates and its outlook for the coming months.
The star CAC 40 index gained 22.22 points to 7,313.02 points around 9:35 a.m. In the first two sessions of the week, it gained 1.08%, which had brought it to its highest level since May 29.
In the United States, the inflation figures for the month of May have reinforced the idea that the American Federal Reserve should take a break in its campaign to tighten monetary policy, summarizes Sebastian Paris Horvitz, of the Postal Bank AM.
After ten consecutive increases since March 2022, the main key rate of the American institution, the variations of which have consequences on all credit rates in Western economies, from real estate to consumption, rose from 0% to 5% in order to to fight against inflation.
Analysts are still divided on whether the hold on rates at the meeting will be just an interlude before a final hike in July, or the start of a real pause that even bodes well for a rate cut by the end of the year. year, or in 2024.
However, the still high level of core inflation, which excludes more volatile energy and food prices, is fueling growing skepticism that central banks will be able to cut rates this year, analysts say. of Deutsche Bank.
Jerome Powell should try to convince the market that the potential break in rates should not last forever and that a new rise at the next meeting in July is possible given the strength of the labor market, writes John Plassard, specialist in the investment at Mirabaud.
On the bond market, the loan of the French State 10 years, the maturity which refers, approached again 3%, 2.95%, against 2.91% on Monday at the close.
Before that, the agenda highlights the figures for industrial production in the euro zone, and the evolution of wholesale prices in the United States.
The United Kingdom recorded GDP growth of 0.2% in April, which rebounded thanks to consumer services after a weak March when it fell by 0.3%, the National Financial Services Office said on Wednesday. statistics (ONS).
Niel, Pigasse and Zouari bid on Casino
The Casino group, in financial difficulties, confirmed on Wednesday that it had received a preliminary expression of interest from the trio of businessmen Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari for a reinforcement of the equity of the distributor in difficulty going up to 1.1 billion euros. The action jumped 14.65% to 7.61 euros, after having taken more than 20% in the first exchanges.
Of this total, 200 to 300 million would be invested directly by them, specifies Casino in a press release, according to which at this stage, it is not a firm offer but a preliminary expression of interest which could not succeed.
The action of the parent company of the distributor, Rallye, jumped 24.19% to 2.31 euros. Its share value has more than tripled (+215%) since Monday.
More people in the Partouche casinos
The Partouche casino group (+1.89% to 21.60 euros) saw its turnover increase by 15.2% in the first half of 2022-2023, compared to the first six months of its previous financial year when attendance at its establishments was still affected by the past vaccination, he announced on Tuesday.