[STOCK MARKET UPDATE] CAC40 rises, inflation slows slowly

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.


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Featured photo : © Getty Images

Picture of Hugues Reydellet
Hugues Reydellet
Hugues Reydellet is a young and passionate journalist whose favorite subjects are economy, culture, gastronomy, but also cars, and sports. With a sharp pen and an insatiable curiosity, Hugues is constantly on the lookout for new hot information to report.

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