The day after the CAC40 rebounded by more than 0.5% to 7978 points, the index was virtually stable this morning at 7974Pts for a session that will be dominated by inflation.

After the provisional estimate of inflation in France for May, investors were informed this morning of inflation for the euro zone as a whole.

According to Insee's provisional estimate, year-on-year consumer prices (CPI) in France rose by 2.2% in May, as in April, with a slight slowdown in services and tobacco prices offset by a sharp acceleration in energy prices.

The eurozone's annual inflation rate, on the other hand, is estimated at 2.6% in May 2024, reflecting an acceleration in consumer price inflation after 2.4% the previous month, according to a flash estimate published by Eurostat.

These data are particularly scrutinized a week ahead of the ECB's monetary policy meeting, especially as German inflation, unveiled on Wednesday, turned out to be rather ominous at +2.4% overall and +3% underlying.

Capital Economics does not believe that the May rise will dissuade the ECB from cutting rates next week, given that it is due to temporary factors, but warns that a pause in July 'now seems more likely'.

In the early afternoon, it will be US inflation's turn to focus attention, as the 'PCE' price index for April - closely watched by the Fed for its monetary policy - will be published alongside household income and expenditure.

Meanwhile, in Paris stock news, Renault Group reports the official launch of HORSE Powertrain Limited, its 50/50 joint venture with Chinese carmaker Geely, specializing in engines and transmissions.

Sanofi reports that the CHMP of the European Medicines Agency has adopted a positive opinion on the approval of its Dupixent in the EU as an add-on maintenance treatment for chronic obstructive pulmonary disease.

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