(News Bulletin 247) – The Paris Stock Exchange ends down after a rebound in inflation in the United States. The CAC 40 closed down 0.5%, back below 7,400 points.

The main statistic of the week, namely American inflation, played its role of animator on the markets. Rising timidly before these figures relating to prices in the United States, the CAC 40 ended its race down 0.52% below 7,400 points, at 7,387.62 points. Or a few points from the lowest of the day (7,382.88 points).

The consumer price index in the United States for the month of December reveals a stronger rebound in inflation than expected, at 0.3% over one month, against 0.2% expected and after 0.1% only in November. And over one year, prices increased by 3.4%, more than the 3.2% expected by the market.

However, this rebound in inflation does not dampen the markets’ hopes for significant key rate cuts from the American Federal Reserve (Fed) this year. According to the Fed Watch tool, investors assign a probability of 67.1% to a relaxation of the Fed’s key rates in March, compared to 64.7% the day before. These speculations appear to be in total dissonance with recent statements from members of the monetary institution who speak of a first reduction much later.

“Nothing really alarming in the United States, but enough to delay the Fed’s next decision: the Federal Reserve’s next step will indeed be a rate cut, but perhaps later than expected,” analyzes Florian Ielpo , in charge of macroeconomics at Lombard Odier IM.

On Wall Street, the trend is also bearish at the close of the European stock markets, with the Dow Jones down 0.65%, the Nasdaq down 0.9% while the S&P 500 lost 0.8%. Note that Microsoft dethroned Apple as the world’s largest market capitalization at the start of the session in New York.

Teleperformance at the top of the CAC 40

On the value side, Teleperformance finished at the top of the CAC 40 on Thursday evening (+4%), while Exane BNP Paribas resumed monitoring the value with an “outperformance” advice and a target of 205 euros.

Alstom limited its gains to 0.3%. HSBC which confirmed its purchase advice on the railway equipment manufacturer while judging that it could avoid the scenario feared by the market, namely a capital increase.

Conversely, Société Générale lost 3.6%, showing the biggest decline in the CAC 40, followed by Kering (-2.8%) and BNP Paribas (-2.6%).

OVHcloud increased by 2% after publishing activity in line with expectations for the first quarter of its delayed financial year. The European cloud specialist will hold a day dedicated to investors next week.

On the other hand, Ekinops lost 3.9%, investors having sanctioned the annual milestone of the telecom equipment manufacturer marked by a sharp decline in its access activity

On other markets, the euro fell 0.3% to 1.0942 dollars. Oil is progressing significantly. The March contract on North Sea Brent rose 2.5% to $78.72 per barrel, while the February contract on WTI listed in New York rose 2.8% to $73.35 per barrel. barrel.