(News Bulletin 247) – The Parisian index fell further this Wednesday, while the consumer price index in the United States for October came out in line with expectations. The CAC 40 contained its decline by 0.14% to 7,216.83 points.

Still groggy, the Paris Stock Exchange struggled to recover on Wednesday the day after a plunge of 2.69% on Tuesday, the worst session of the index since July 2023. The CAC 40 stumbles again by 0.14% at 7,216.83 points, however limiting the damage after having lost up to 0.93% to 7,158.25 points around 4:25 p.m.

Investors took note of the inflation data in the United States published early this afternoon. The figures for October came out in line with expectations. The increase in the consumer price index in the United States, the best-known measure of inflation, stood at 2.6% over one year, compared to 2.4% in September, still at an annual rate. Excluding energy and food prices, the increase reached 3.3%, which is in line with the expectations of economists surveyed by the Wall Street Journal who expected exactly this figure.

Bitcoin is going from record to record

A new rate cut by the American Federal Reserve (Fed) in December “is not called into question by this report”, says Florian Ielpo, head of macroeconomic research for Lombard Odier IM. “Overall, this report is probably a non-event,” he continues.

“We note that the annualized six-month variation in underlying inflation, which Jerome Powell mentioned during the last FOMC (Fed Monetary Policy Committee), is getting a little closer to the 2% target. “This report therefore generally confirms the trend of disinflation in the United States and constitutes an additional element of satisfaction for the Fed”, estimates Bastien Drut, head of strategy and economic studies at CPRAM.

Note that bitcoin continues to fly from record to record, now with $100,000 in its sights. The queen of cryptocurrencies passed the $90,000 mark this Wednesday, and has gained more than 30% since the election of Donald Trump on November 5.

Nexans’ ambitions appeal to the stock market

On the value side, Air Liquide gained 0.9% thanks to Jefferies which switched to buying the stock against “underperformance” previously. The research office believes that the price increases of the industrial gas specialist are sustainable and that its valuation is attractive.

Tech, on the other hand, is in a bad direction as a whole: STMicroelectronics lost 4.2%, Capgemini returned 3.9% and Dassault Systèmes 1.8%.

Excluding the CAC 40, Nexans gained 4.2% after delivering a convincing roadmap to the market for 2028.

The cable company’s title is followed by Fnac Darty, which gained 3.7%. The specialist distributor announced the success of its takeover bid for its Italian counterpart Unieuro, which will allow it to enter the other side of the Alps.

Interparfums gained 1.15% after revealing its objectives for 2025, counting on slight growth in its turnover.

On other markets, the euro lost another 0.5% to 1.0563 dollars. Oil holds its lead. The January contract on North Sea Brent gained 0.1% to $71.97 per barrel while the December contract on WTI listed in New York also gained 0.1% to $68.19 per barrel.