The CAC40 is holding steady in Paris at around 8020Pts, as it begins a session that is expected to be dominated midday by the US Consumer Price Index (CPI) for the past month.

'The CPI is expected to rise by 0.4% at a monthly rate. If this is the case, it would confirm a firming of inflation in the first quarter', warns Oddo BHF, for whom this statistic 'has the potential to be a big market mover'.

The research firm points out that underlying inflation is tending to pick up, and its level, at around 4% a year, 'is not a comfortable one for the Fed', which 'has confirmed that its central scenario is to cut rates in 2024, but not right away'.

As an indication, Jefferies expects to announce an annual inflation rate up by 0.1 points to 3.2% in gross data, but down by 0.2 points to 3.7% in underlying data (excluding energy and food).

In other stock news, Accor has signed a share purchase agreement to buy back a block of seven million of its own shares - representing 2.77% of its capital - from Jinjiang International, for 275 million euros.

Nexans announces the success of a bond issue for a total nominal amount of 350 million euros with a six-year maturity and an annual interest rate of 4.25%, with a diversified base of institutional investors in France and abroad.

Forvia also announces that it has finalized a previously announced senior bond issue for one billion euros, of which 500 million maturing in June 2029 at a rate of 5.125% and 500 million maturing in June 2031 at a rate of 5.50%, bonds listed in Dublin.

While maintaining its 'neutral' position on Teleperformance, UBS has drastically reduced its price target from 137 to 95 euros, leaving 12% upside potential for the French customer relationship outsourcing group's shares.

Despite a rock-bottom valuation, faster deflation, an integration risk and poor visibility on customer decision-making are limiting the upside potential", says the broker, for whom the group "still has a long and uncertain way to go to win back customers".

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