The control room of Euronext, the company that manages the Paris Stock Exchange (AFP / Eric PIERMONT)
The Paris Stock Exchange was stable in early trading on Friday, in a market just waiting for a final indicator of US inflation to take a long Christmas weekend.
The star CAC 40 index advanced 0.01% to 6,518.52 points around 9:45 a.m. On Thursday, it finished down 0.95%.
Over the week, it is currently up 1.02%.
The markets had gained confidence thanks to the solidity of the American consumer, but the stronger than expected American growth, auguring tighter monetary tightening by the American Federal Reserve, dampened enthusiasm on Thursday.
“We must avoid reading too much into market movements given the lack of liquidity (…). Investors who follow the trend are those who take advantage of low trading volumes” describes Stephen Innes, of Spi AM.
Before a three-day weekend, December 26 being a traditional public holiday on the Paris Stock Exchange, investors will have one last important piece of data to chew on: the PCE inflation indicator for November in the United States. United, the most followed by the US Federal Reserve, at 2:30 p.m.
Markets are expecting a sharp deceleration, with a rise of 0.2% over one month against 0.8% in October, but any different result could profoundly change the dynamics of the session.
“Investors are becoming more and more aware that the US Federal Reserve will not be accommodating in the coming quarters due to the continued strength of the US economy. But is this really a surprise?” pretends to wonder John Plassard, investment specialist at Mirabaud.
movement in insurance
Eurazeo (+1.20% to 58.95 euros) should invest up to 355 million pounds sterling in BMS Group, an insurance and reinsurance broker based in London and acquire up to 34% of its capital.
In addition, the insurance branch of Crédit Agricole (+0.48% to 9.80 euros) and the Italian bank Banco BPM have signed a memorandum of understanding for the establishment of a long-term bancassurance partnership, according to a press release from the French bank on Friday.
Stellantis puts a wheel in hydrogen
Stellantis (+0.23% to 13.15 euros) has entered into exclusive negotiations to take a stake in the capital of Symbio, a joint venture of Faurecia (+1.70% to 26.49 euros) and Michelin (+1 .63% to 26.46 euros) in the field of hydrogen, the automaker said in a press release on Friday.
© 2022 AFP
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