(News Bulletin 247) – The Paris Stock Exchange is taking a break after two good sessions. The CAC 40 is down 0.6% Friday at mid-session.

The Paris Stock Exchange takes a breather after its recent rise. The CAC 40 yielded 0.6% back below 7400 points, to 7392.27 points on Friday at midday.

The star index is therefore bent under profit taking, the day after its rebound of 1.5% fueled by the luxury sector and data deemed reassuring on inflation.

The good mood therefore fell after the comments of the President of the Federal Reserve (Fed) of San Francisco, Mary Daly, on the inflation figures published the day before. For her, it is still premature to declare the “victory” of the American Federal Reserve on inflation. “There’s still work to do. And the Fed is fully committed to resolutely bringing inflation back to its 2% target,” she told Yahoo! Finance. Remember that “core” inflation, i.e. excluding food and energy prices, came out in line with market consensus at 4.7%, over one year and below 4 .8% of the month of June.

Caution is also called for before the publication of two statistics in the United States this afternoon: producer prices at 2:30 p.m. and preliminary data from the consumer confidence index (U-Mich) at 4:00 p.m.

Despite this decline posted by the CAC 40 at mid-session, the latter is still gaining almost 1% on a weekly basis.

Reduced news as August 15 approaches

Coface lost 2.7% after announcing slightly lower half-year results. The credit insurer will present a new strategic plan on March 5, 2024.

Atos also gives back 2.7% while the S&P agency plans to downgrade the IT group’s rating by one notch.

On the foreign exchange market, the euro grabbed 0.1% to 1.0993 dollars. As for oil prices, a barrel of Brent from the North Sea, for delivery in October, rose 0.4% to 86.73 dollars and West Texas Intermediate (WTI) gained 0.35% to 83.12 dollars. .