(News Bulletin 247) – The CAC 40 gained a little ground at mid-session this Wednesday while investors will monitor the consumer price index in the United States this afternoon.
The CAC 40 is trying to begin a timid rebound this Wednesday, after losing 0.9%, weighed down by aeronautics and defense stocks.
The Parisian index rose 0.45% at mid-session, returning to 8,086.31 points.
Investors are firmly awaiting the consumer price index, the main measure of inflation, for the month of March in the United States. This statistic will be published at 2:30 p.m. and economists surveyed by the Wall Street Journal expect an increase of 3.7% over one year, excluding food and energy prices.
An important meeting for the market to the extent that, following several statements by members of the American Federal Reserve (Fed), investors have become less optimistic about the central bank’s rate cuts.
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Edenred weighed down by Jefferies
“Today’s publication of the Consumer Price Index (CPI) for the month of March in the United States will play an important role in the Fed’s decision-making in the months to come,” write the economists at LBPAM.
“The rise in energy prices will disrupt the evolution of inflation, but attention will mainly be focused on underlying inflation. We expect this to continue to decelerate on a sliding scale. annual, but we continue to think that convergence towards 2% will be slow. The market nevertheless risks overinterpreting any figure above or below expectations”, they continue.
On the value side, Edenred is suffering, losing 4.7%, penalized by the initiation of Jefferies’ hedging at “underperformance” which is the equivalent of selling to the bank.
Real estate developer Kaufman & Broad gained 5% after reporting a 10% increase in its booking volumes in the first quarter, despite a sluggish market.
On other markets, the euro advanced by 0.04% against the dollar. Oil is moving a little. The June North Sea Brent contract advanced 0.3% to $89.67 per barrel, while the May contract for WTI listed in New York gained 0.3% to $85.48 per barrel.
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