The Paris Stock Exchange figured before US inflation
The Paris Stock Exchange is stable in the first exchanges on Tuesday but the session is played out in two stages, with the long-awaited indicator on inflation in the United States published at the start of the afternoon.
After opening slightly higher, the star CAC 40 index crumbled by 0.01% to 6,650.44 points around 9:25 a.m. The day before, it had fallen by 0.41%, ending in the red for the fifth time in six sessions.
Inflation (CPI index) in November in the United States “will be the high point of the day”, warns John Plassard, investment specialist at Mirabaud.
Market participants’ expectations are for one-year inflation of 7.3% in November, down from 7.7% in October.
“Last Friday, the November producer price figures fell from the previous month, but not as much as expected, which revealed some disappointment among investors,” said Ipek Ozkardeskaya, analyst at Swissquote Bank.
According to her, these figures have little chance of influencing the monetary policy decision of the American Central Bank (Fed) which will be made on Wednesday. They could, however, “change the way investors see the final rate” of the Fed (that is to say the high point of its cycle of raising its main key rate), “and for how long” it will maintain, thinks the analyst.
Fed officials are also due to release their rate expectations for the coming months on Wednesday. Other central banks are due to make decisions later this week, including the European Central Bank and the Bank of England.
In Germany, inflation came in at 10.0% year on year in November.
Among the other indicators published on Tuesday, private salaried employment continued to be dynamic in the third quarter in France with an increase of 0.6% and 119,100 net job creations, according to the final estimate from INSEE.
Elior well served by Citi
The collective catering group Elior rose 5.94% to 3.28 euros after a positive note from the Citi bank. Derichebourg, which took a large stake in the group, rose 3.50% to 5.63 euros.