The Paris Bourse was up on Friday, offsetting the previous day’s losses on US inflation figures. On the same day, INSEE reported a slowdown in inflation in France for 2023, attributed to the slowdown in energy prices. On the corporate front, Burberry weighed on the valuations of luxury goods players, while Microsoft temporarily dethroned Apple as the world’s largest market capitalization.
At the start of trading on Friday, the Paris Bourse was up by almost 1% (+0.90%), offsetting the previous day’s losses following the release of US inflation figures. Attention now turns to corporate results.
The leading index, the CAC 40, was up 66.45 points at 7,454.07 at around 12:30 p.m. Over the week as a whole, it gained 0.57%. On the bond market, the French government interest rate fell sharply to 2.67% from 2.73% at the close on Thursday.
On Thursday, the Paris Bourse had reacted negatively (-0.52%) to US inflation data, which came in slightly above expectations, marking the main event of the week.
“The surprise does not, in our view, call into question the downward trend in inflation over the coming months”, even if it will be “slow”, according to analysts at Banque Postale AM.
Core inflation, which excludes the more volatile food and energy prices, came in close to expectations, reassuring investors. Wall Street finished close to equilibrium on Thursday.
Inflation slows in France
In 2023, inflation in France moderated slightly to an annual average of 4.9%, as reported by Insee on Friday. This was due to a slowdown in energy prices, which offset the acceleration in food prices. In comparison, consumer price inflation had been 5.2% in 2022, following respective figures of 1.6% in 2021 and 0.5% in 2020.
To continue reading this article, subscribe or log in to your account
Discover our plans
- Every day, keep up to date with the latest business news from the world of luxury.
- Receive the essential luxury business news by email every week
- Access all our events
- The Luxury Journals and Luxus Magazine in print and digital versions
Subscribe for 1€
Become an active member of the community of luxury leaders.
Read also>[STOCK MARKET UPDATE] PARIS BOURSE UP FOR THE FIFTH WEEK RUNNING
Featured photo : © Getty Images
