(News Bulletin 247) – The CAC 40 is moving up this Friday at mid-session, while investors are hanging on the lips of Jerome Powell. JCDecaux stands out, supported by Deutsche Bank.

The big event of the week is approaching. The Paris Stock Exchange is gaining ground this Friday in the middle of the session, awaiting the intervention this afternoon of Jerome Powell, the president of the American Federal Reserve (Fed), during the symposium of Jackson Hole, in Wyoming.

The CAC 40 thus gained 0.67% to 7261.50 points and has so far posted a weekly increase of more than 1.3%.

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“Our U.S. economists don’t expect Powell to send strong signals this year regarding near-term monetary policy. They believe the message about data dependence at the last FOMC meeting (the Fed Monetary Policy Committee, editor’s note) was clear and that it is too early to abandon this approach”, explains Deutsche Bank.

“But it will be interesting to see if we get more information on Powell’s views on inflation, and if he sticks to the idea that getting inflation back to its target level will require a economic weakness, including through a higher unemployment rate”, continues the German bank.

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Jerome Powell’s intervention is expected at 4:05 p.m. French time. Christine Lagarde, President of the European Central Bank, will speak at 9 p.m.

The market also takes note of the confirmation of zero growth in Germany in the second quarter.

As for values, JCDecaux stands out, taking 4.5% thanks to an increase in the recommendation from Deutsche Bank to “buy” against “hold” previously.

On the other markets, the euro lost 0.1% against the dollar at 1.0799 dollars. Oil contracts are gaining ground. The October contract on Brent from the North Sea takes 1.3% to 83.99 dollars a barrel, while that of the same expiry on WTI listed in New York is awarded 1.35% to 80.12 dollars the barrel.