The Paris Stock Exchange ended down 0.28% on Tuesday, at the end of a volatile session, driven by the publication of inflation in the United States which climbed further.
The CAC 40 star index lost 18.40 points to 6,537.41 points. The day before, it had risen 0.12%.
The Parisian rating started its day in bright red, losing nearly 2% on fears that inflation in the United States was “extraordinarily high”, according to remarks made Monday after the European close by the spokeswoman for the White House.
But the figures finally came out in line with expectations: inflation reached 8.5% over one year, a record since 1981 but a figure only slightly higher than the consensus (8.4%).
Better still, the core inflation figure, which excludes energy and food prices – which are more volatile – slowed down compared to February, to 0.3% against 0.5%. Over one year, however, the indicator accelerated to 6.5%.
After this publication at the start of the afternoon, the Paris Stock Exchange even made a foray into the green, before giving way again.
The dynamic “has nothing to change the policy of the US Federal Reserve” (Fed), which is to hold its next meeting in early May, explains Clémence de Rothiacob, manager at Richelieu Gestion.
The Fed started to raise its key rates in mid-March and warned that it would continue to tighten its monetary policy in the coming months, through rate hikes and asset sales.
In addition, “as a four-day weekend approaches, investors tend to be more cautious,” notes Ms. de Rothiacob, pointing in particular to trading volumes slightly lower than normal.
The approach of the results season, with banks in the United States or luxury in Europe, as well as the meeting of the European Central Bank (ECB) on Thursday, do not encourage risk taking either.
“The ECB is in a different situation” than that of “the Fed. There is a fear of recession with the geopolitical risks” caused by the war in Ukraine, continues the manager.
The institution should not yet trigger rate hikes at this meeting, but could do so within the year, said Ms. de Rothiacob.
As for values, in a “mirror session” compared to Monday, the sectors that started the week the worst have recovered.
LVMH took 1.77% to 630.90 euros, before the publication of its results.
The bioMérieux laboratory, whose turnover in the first quarter fell by 4.5% over one year, at constant exchange rates and perimeter, was sanctioned by the market (-5.61% to 93.20 euros) .
The manufacturer of artificial hearts Carmat tumbled 17.67%, to 10.25 euros, after a capital increase of 40 million euros carried out using the issuance of new shares at a price of 10 euros.
Euronext CAC40