(News Bulletin 247) – The Parisian index fell sharply at mid-session, lacking fuel to move forward.

The CAC 40 takes a breath. The Parisian index dropped 0.56% to 8,193.02 points at mid-session this Thursday, after breaking a new record at the close and coming close to that during the session the day before.

The market is thus consolidating after having been buoyed the day before by American inflation in line with expectations, which reinforced investors’ hopes of seeing the American Federal Reserve lower its key rates this year. The market currently anticipates rate cuts of 50 basis points, or 0.5 percentage points.

Deutsche Bank believes that inflation has taken “a step in the right direction” but that “more progress is required over the coming months before the Fed has enough confidence to lower rates.”

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Ubisoft suffers

A few indicators are on today’s agenda, notably industrial production in the United States, housing starts, and even weekly unemployment registrations.

On the value side, Ubisoft fell 14% after publishing disappointing prospects for its 2024-2025 financial year in terms of non-IFRS operating income.

Conversely, Elior jumped 27%, following half-year results considered “encouraging” by Oddo BHF. The group also raised its outlook for the current financial year.

Vallourec lost 3.2%, while the company revealed a gross operating profit target lower than expected for the second quarter, notes Oddo BHF.

On other markets, the euro fell 0.1% against the dollar to 1.0875 dollars. Oil is losing ground. The July North Sea Brent contract lost 0.3% to $82.48 per barrel, while the June contract for New York-listed WTI lost 0.4% to $78.33 per barrel.