(News Bulletin 247) – The Parisian index is in balance at mid-session this Friday, while inflation accelerated in May in the euro zone. The PCE index, the preferred gauge of the American Federal Reserve, will be published this afternoon in the United States.

The Paris Stock Exchange is preparing to end a difficult week. And, for now, the CAC 40 is struggling to advance this Friday, falling 0.02% to 7,977.05 points this Friday. Over the whole week, the Parisian index is currently falling by 1.5%.

Important inflation data is released this Friday. In Europe, the harmonized consumer price index increased by 2.6% year-on-year in May compared to 2.4% the previous month.

“The increases in headline and core inflation recorded in May, as well as the jump in services inflation to a seven-month high, will not prevent the European Central Bank from cutting interest rates. “interest next week But a further reduction in July now seems unlikely,” concludes Capital Economics.

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Tech in the tough

Investors are now awaiting the release of the PCE index in the United States, the preferred gauge of the American Federal Reserve (Fed), for the month of April. Economists surveyed by the Wall Street Journal expect an increase in the index excluding energy and food prices of 0.2% over one month and 2.8% over one year.

The market will also monitor the decision expected this evening on France’s credit rating by the S&P agency.

On the value side, tech is suffering. Capgemini shows the biggest drop in the CAC 40 (-5.5%), while both Jefferies and JPMorgan have lowered their opinion, going from buy to hold (or equivalent). The two notes from American banks point to a recovery in the IT services sector which risks delaying over time.

Worldline lost 3.4%, Alten 3% and Dassault Systèmes 2.2%. OVHcloud lost another 8% after dropping 14.6% the day before following a downgrade from Stifel.

Neoen gained 20.5%, the price approaching the offer contained in the proposed takeover of Canadian Brookfield, announced Thursday.

For identical reasons, a price which adjusts to a repurchase price, Micropole takes 43.8%. On other markets, the euro advanced 0.15% against the dollar to $1.085. Oil moves without direction. The July contract on Brent from the North Sea gained 0.05% to 81.91 dollars per barrel while that on WTI listed in New York lost 0.1% to 77.85 dollars per barrel.