(News Bulletin 247) – The index gained ground at mid-session this Friday, while inflation slowed in the euro zone.

The Paris Stock Exchange is well on its way to a third consecutive rise. The CAC 40 gained 0.44% at mid-session this Thursday to 7,674.61 points. Over the week as a whole, the index has so far gained 1.3%.

“European stocks continued to climb on Friday despite mixed sector performances as market sentiment improved following the latest inflation data from the region,” said Pierre Veyret, analyst at Activtrades.

“Risk appetite increased after investors welcomed reassuring consumer price index data from the Old Continent’s two largest economies, Germany and France, supporting the case for further rate cuts by the European Central Bank at its next policy meeting.”

Inflation has slowed in both France and Germany. In the Eurozone, it stood at 2.2% in August compared to 2.6% in July.

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Crédit Agricole SA stands out

Investors will be waiting this afternoon for the publication of the PCE index, the US Federal Reserve’s preferred gauge for measuring inflation, at 2:30 p.m. The consensus established by the Wall Street Journal is set at 2.7% for the index excluding food and energy prices over one year.

On the stock side, Crédit Agricole SA gained 2.3%, benefiting from an increase in its buying advice from HSBC.

Spie and Elis gained 4.5% and 2.5%. The common point between these two very different groups (mechanical engineering on the one hand and industrial laundry on the other) is that JP Morgan resumed monitoring them this Friday with a recommendation to “overweight” each of them.

In other markets, the euro is stable against the dollar at $1.1083. Oil is little changed. The November contract on North Sea Brent is stable at $78.83 per barrel while that on WTI listed in New York is also stable at $75.92 per barrel.