(News Bulletin 247) – The Paris Stock Exchange is showing a decline after inflation figures in the United States showing a less severe slowdown in prices than expected by the markets. The CAC 40 therefore lost 0.84% ​​this Tuesday, the day after its closing record.

The consumer price index, the benchmark measure of inflation in the United States, was undoubtedly the statistic to watch for the day. Down slightly by 0.5% at lunchtime, the Paris Stock Exchange accentuated its initial decline after figures relating to consumer prices which did not please investors.

The CAC 40 lost 0.84% ​​to 7,625.31 points, which takes it away from its absolute highs reached Monday evening closing at 7,689.80 points.

Investors were therefore somewhat shocked by a slower slowdown in price increases than expected in January. Consumer prices certainly slowed to 3.1% year-on-year in January, compared to 3.4% in December, according to the CPI index published Tuesday by the Labor Department. But this is not enough for the markets which hoped to see inflation fall below 3% last month.

As for so-called core inflation, which excludes volatile food and energy prices, it remains stable at 3.9% over one year, where the consensus compiled by the Wal Street Journal predicted there. also on a weaker progression, of 3.7% excluding food and energy prices.

Michelin featured

Traders have also been busy dissecting company results. The only CAC 40 company to have so far published this week, Michelin jumped 6.9%, signing by far the strongest progression in the CAC 40. The bibendum largely exceeded expectations on its cash generation, benefiting from its rise in range and its ability to drive prices upwards. The group also announced a share buyback program of up to 1 billion euros over three years.

The CAC 40 was penalized by the decline in tech stocks, STMicroelectronics which lost 3.5% and Dassault Systèmes which returned 1.3%.

Strongest increase in the SRD this Tuesday, the pleasure boat specialist Beneteau recovered 7.5% after raising its financial objectives for 2023. The group published a record turnover for last year.

Air France-KLM fell 2.6%, weighed down by a deterioration in Redburn’s opinion from “neutral” to “sell”.

On other markets, the euro fell by 0.5% to 1.0716 dollars, penalized by the strength of the greenback after the inflation figures in the United States. Oil is rebounding, supported by forecasts of growth in demand for black gold from the Organization of the Petroleum Exporting Countries, identical to its January report (OPEC). The April contract on North Sea Brent gained 1% to $82.78 per barrel, while that of the same maturity on WTI listed in New York gained 1.2% to $77.86 per barrel. .