(News Bulletin 247) – After falling 2.9% the day before, the CAC 40 was up slightly at mid-session. Investors will watch the publication of US inflation this afternoon.

The CAC 40 is still groggy. The flagship index of the Paris Stock Exchange begins a slight rebound on Tuesday, gaining 0.7% to 7,060.88 points at mid-session, after falling 2.9% on Monday.

Investors remain concerned about the repercussions of the failure of several banks in the United States, Silicon Valley Bank (SVB) and Signature Bank having been closed and placed under the supervision of the FDIC, the American Deposit Guarantee Agency, due to the massive withdrawals from their customers.

Investors fear that these problems will spread to regional US establishments. Markets “are very anxious” and it is “unlikely that trader confidence can be restored until central banks give assurances that they understand the problem”, underlines Naeem Aslam of Zaye Capital Markets .

US inflation in sight

The bankruptcy of SVB, partly indirectly caused by the rate hikes of the Federal Reserve, led the research offices and the market to revise their anticipations of hikes in key rates on the part of the American central bank.

“Some even, like Nomura since this morning, anticipate a rate cut of 25 basis points [0,25 point de pourcentage, NDLR] and a stop to the reduction of the balance sheet as of next week”, notes Vincent Boy, market analyst at IG France.

To be seen, however, if the inflation figures in the United States for February can change the situation. The consumer price index, the benchmark for measuring price increases, will be released at 1:30 p.m. Economists surveyed by the wall street journal expect a rate of 6% over one year, against 6.4% in January and a “core” rate, that is to say excluding food and energy prices, of 5.5%.

Featured Icade

In terms of values, Icade stands out, taking 5.5% after announcing the sale of all of its health activities, via a fairly complex arrangement.

OVHCloud regained 7.7% after losing nearly 20% in sessions from Thursday to Monday. Saint-Gobain gives up 1.9%, the building materials specialist suffering from a deterioration of Societe Generale from “buy” to “keep”.

On other markets, the euro fell 0.1% against the dollar to 1.0721 dollar. Oil is losing ground. The May contract on North Sea Brent for May delivery fell 1.7% to $79.41 a barrel while the April contract on Wall Street-listed WTI fell 2% to $73.24 the barrel.