(News Bulletin 247) – The Parisian index ended slightly higher on Tuesday, supported by Société Générale and Veolia.

The Paris Stock Exchange came out of its torpor a little during the day. The CAC 40 finished slightly higher on Tuesday, gaining 0.20% to 8,225.80 points.

Investors continued to show a certain wait-and-see attitude before Wednesday’s publication of the consumer price index in the United States, the main measure of inflation. This data will obviously be scrutinized by the market as investors once again count on rate cuts of 50 basis points, or 0.5 percentage points, this year, from the American Federal Reserve (Fed).

In the meantime, the market has digested the producer price index in the United States, which increased more sharply than expected in April, with an increase of 0.5% against 0.3% expected by economists. interviewed by the Wall Street Journal.

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Macron’s boost to Société Générale shares

This increase was, however, mainly “due to downward revisions of previous months, the gains of 0.2% over one month in March having been revised and converted into a drop of 0.1%”, nuance Capital Economics.

On the business side, a few announcements and movements animated the Parisian stock market. Veolia gained 2.1% driven by first quarter results above expectations thanks to synergies extracted from the integration of Suez.

The largest increase in the CAC 40 was, however, signed by Société Générale, which rose 3.8%. The La Défense bank seems to be buoyed by the declarations of the President of the Republic, Emmanuel Macron. Monday evening, the tenant of the Elysée responded to a question from Bloomberg on a potential takeover of a French bank by a European counterpart, indicating that he was open to such a hypothesis. Bloomberg’s question took as an example a takeover of Société Générale by Santander.

Solutions 30 turned upwards and finally gained 3.45% after reporting a start to the year described as “mixed” by Oddo BHF in terms of revenue.

On other markets, the euro gained 0.26% against the dollar to 1.0018 dollars. Oil is declining. The July contract on North Sea Brent lost 1.2% to $82.37 per barrel, while the June contract on WTI listed in New York lost 1.3% to $78.07 per barrel.