CAC40: reassured by the pace of inflation in the United States

(CercleFinance.com) - The Paris Bourse climbed 0.
5% to around 7445 points, driven by Dassault Systèmes (+2.4%), Legrand (+1.9%) and Axa (+1.5%).

The markets welcomed the US inflation figures, with retail prices rising in August (+0.2%) at the same rate as in July, in line with economists' expectations.

The year-on-year increase came to 2.5% according to data published by the Labor Department, again in line with consensus forecasts.

These data were particularly eagerly awaited, given that the Fed's next monetary policy meeting will be held in a week's time.

' Unfortunately, this last statistic before the Fed's big oration in a week's time is unlikely to settle the debate among investors over the size of the first rate cut (25 or 50 basis points)', believes Christopher Dembik, analyst at Pictet AM.

Investors will also be watching Wall Street's reaction in the wake of the first debate between the two US presidential candidates, in which Democrat Kamala Harris appears to have been more convincing than her Republican rival, Donald Trump.

According to a poll cited by Danske Bank analysts, the US vice-president largely dominated this first televised duel in the run-up to the November 5 vote, with 55% of viewers awarding her victory against 45% for the Republican candidate.

By way of comparison, in a poll taken before the confrontation, Kamala Harris had only 49.5% of voting intentions, compared with 50.5% for the New York businessman.

While Trump focused on the failures of the current administration, Harris unveiled a more forward-looking vision", say Danske Bank staff.

"The general tone of Trump's remarks appeared dark and threatening, while Harris appeared more optimistic about the future", adds the Danish establishment.

On Forex, the euro remained stable against the greenback, at $1.10/E, while in London, Brent crude oil was trading at $70.3/barrel (+0.8%).

In French company news, Orange borrowed 600 million euros on the 10.3-year bond market, with a coupon of 3.250%.

Sanofi reports that a pivotal study of Dupixent (dupilumab) as a treatment for bullous pemphigoid (BP) has met its primary and secondary objectives in adults with moderate to severe forms of the disease.

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