(News Bulletin 247) – The Paris Stock Exchange is expected to continue its rebound that began the day before on Thursday, even if some caution could remain in order pending the US inflation statistics, scheduled for early afternoon.

Around 8:15 am, the ‘future’ contract on the CAC 40 index – August delivery – won 55.5 points at 7385.5 points, suggesting a start to the session in the green.

It will however be necessary to wait for the publication, one hour before the opening of Wall Street, of the monthly figures for consumer prices in the United States to see a real trend taking shape.

Investors await these data with all the more feverishness as the figures for the month of June, which were much lower than expected, had warded off the specter of further rate hikes from the Fed.

With the deceleration of inflation, market participants say that monetary tightening policies could soon come to an end, thus avoiding the economy falling back into too severe an economic recession.

‘The inflation report (…), which should continue to show more subdued inflationary tendencies, could be more convincing and cause the Fed to be patient and observe the evolution of the economy during another meeting’, predicts Tiffany Wilding, economist at PIMCO.

Conversely, figures above the consensus could rekindle fears about rates and lead to renewed volatility which would translate into a further push in government bond yields.

A sign of investor caution, the yield on the US 10-year continues to camp above the symbolic 4% mark, at 15-year highs.

Inflation figures could overshadow the second quarter results of large European companies, whose performance has so far disappointed.

Of the 75% of companies in the STOXX Europe 600 index having published their accounts, 63% have done better than expected in terms of profits, underline the strategists of Deutsche Bank, who note however that their forecasts for the second half of the year have proven true. worse than expected.

This morning, the rating is animated, among others, by the publications of Allianz, Deutsche Telekom and Novo Nordisk.

Siemens announced for its part that it had returned to profit in its third accounting quarter, with a net profit of 1.4 billion euros, compared to a loss of 1.5 billion a year earlier.

Also featured, Disney reported a lackluster second-quarter performance last night, but narrowing video streaming losses seemed to reassure investors.

On the foreign exchange market, the euro is trying to move forward this morning by recrossing the threshold of 1.0990 against the dollar.

On the energy side, oil prices confirmed their current good shape with Brent rising 0.2% to 87.7 dollars, while WTI rose 0.2% to 84.6 dollars.

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