On reduced volumes during this summer period (€2.1 billion traded on the main components of the rating), the CAC40 closed yesterday at 7220 points ahead of data on US inflation up 1.07%.
The trend continues to be supported by hopes of an end to the rate hike cycle and the prospect of fresh support measures in China.
On the equities front, Unibail gained 4.19%, Saint Gobain 4%, Téléperformance 3.37%, LVMH 2.21% and Hermès 2%, while Safran lost 0.45% and Danone 0.11%.
At the macroeconomic level, the news was tenuous. As expected, the CPI index in Germany rose by 0.3% and the Zew index fell to -14.7 (from -8.5 last month).
US indices also ended in the green, supported in particular by financials, ahead of Friday’s start of earnings season.
The Dow Jones was up 0.93% to 34,261 points, the S&P500 was up 0.67% to 4,439 points and the Nasdaq100 was up 0.49%.
Today, at 2:30 p.m., operators will learn the CPI index, which is expected to increase by 0.3% (+3.1% over one year). The Bank of Canada will give its interest rate ruling at 4pm, oil inventories will be released at 4.30pm and the Fed’s beige book at 8pm.
Meanwhile, the CAC40 should start the session up 0.4%.
On the hourly data, the trend remains positive above 7170 points, a level that corresponds to the 8pm moving average. The spill from 7245 points should pave the way to 7300 points, the top of a gap left open on July 6th.
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