(News Bulletin 247) – The Paris Stock Exchange has finally put an end to a series of five sessions in the red. The CAC 40 closed up 0.6%, returning 7,100 points, supported by reassuring data on prices in Germany and its heavyweight TotalEnergies.

The Paris Stock Exchange confirms its rebound. The CAC 40 ended up 0.63% to return to 7100 points at 7116.24 points this Thursday evening. The trend was supported by a pleasant surprise on the inflation front in Germany and by records from TotalEnergies.

The nervousness that prevailed before German inflation gave way to a firmer trend after the publication of the statistic. Consumer prices across the Rhine increased less than expected year-on-year in September, with inflation standing at 4.5%.

Inflation will be discussed on Friday with the publication of the monthly PCE price index in the United States, which is the preferred measure of inflation by the American Federal Reserve (Fed). The Reuters consensus forecasts an acceleration of this indicator to 0.5% in August from one month to the next and to 3.5% on an annual basis.

“The more concerning question, however, is how quickly inflationary pressures can ease as oil prices continue to rise, with the price of Brent crude oil moving ever closer to $100 per barrel, and how much effect this 30% movement since the summer lows will have on the global economy, consumer spending habits and, more importantly, corporate profit margins,” lists Michael Hewson of CMC Markets.

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TotalEnergies at its highest

Oil rose sharply on Wednesday, propelled by the collapse of crude stocks in the United States. The November contract on WTI listed in New York even briefly crossed $95 per barrel overnight but is currently taking a breather, losing 0.06% to $93.62 per barrel. The contract of the same maturity on North Sea Brent lost 0.45% to 93.94 dollars per barrel.

In the wake of the evolution of oil prices, TotalEnergies ended up 1.1%, after setting a new record at 64.55 euros during the session. The stock was also supported by the good reception of the investor day on Wednesday afternoon.

Eutelsat gained 2.3% after announcing the finalization of its merger with OneWeb.

Safran ultimately finished slightly higher (+0.25%) despite UBS downgrading from “buy” to “neutral”. The Swiss bank prefers its German comparable MTU Aero to play the aeronautical engine manufacturer sector.

Beneteau for its part plunged by 12.5%, penalized by prospects darkened by anticipated clearances at boat dealers in 2024.

Furthermore, the American cosmetics giant began its double stock market life in Paris this Thursday at 3:30 p.m. And Coty’s first steps are timid, the stock losing 0.6%.

On the foreign exchange side, the euro regains some color against the dollar, gaining 0.7% to 1.0575 dollars.