(News Bulletin 247) – The Parisian index gained a few points at mid-session this Tuesday, while investors await the publication of the consumer price index in the United States. Its historic peak now stands at 7582.47 points.
The markets are not really losing their optimism this Tuesday. The CAC 40 rose by 0.09% to 7558.35 points at mid-session, not without having established a new session record at the end of the morning at 7582.47 points. It remains to be seen whether it will rise enough by the end of the day to beat its closing record, at 7577 points.
Relatively optimistic, the market does not benefit from a very big catalyst this Tuesday in terms of statistics. German investor morale, measured by the Zew index, increased in December to stand at 12.8 (balance between positive and negative opinions) against 9.8 in November and a Reuters consensus at 8.8. However, its publication did not have a huge impact on prices.
Investors are especially awaiting the publication at 2:30 p.m. of the consumer price index (CPI) in the United States, which measures inflation.
>> Access our exclusive graphic analyses, and gain insight into the Trading Portfolio
Morale of steel for ArcelorMittal
“For today’s release, our U.S. economists expect monthly headline CPI to be just +0.07%, supported by a further 8% decline in gasoline prices since October This would bring the year-on-year rate down to 3.1%. As for the basic CPI (excluding food and energy prices, Editor’s note), they expect a stronger monthly figure of +0.27%, with a year-on-year measurement of 4.0%,” explains Deutsche Bank.
On the value side, ArcelorMittal gained 1.6% benefiting from an increase in recommendation from JPMorgan to “overweight”.
Renault is stable after announcing the sale of around 5% of the capital of its partner Nissan, an operation which will result in a significant accounting loss in its net income.
On the smaller valuation side, biotech Valbiotis plunged 14.7% after announcing a capital increase of 15 million euros.
On other markets, the euro rose 0.4% against the dollar to 1.0807 dollars. Oil is progressing timidly. The February contract on North Sea Brent advanced 0.1% to $76.11 per barrel while the January contract on WTI listed in New York gained 0.1% to $71.40 per barrel.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
