CAC40: red, US inflation no surprise

(CercleFinance.com) - The Paris Bourse slipped into the red at 7365Pts (-0.
6%) in the wake of US indexes after the publication of US inflation figures.

The Labor Department announced that the consumer price index (CPI) rose by 0.2% in August, as in July and in line with economists' expectations.

On a year-on-year basis, it rose by 2.5%, slightly below the average consensus forecast (+2.6%).

These data were particularly eagerly awaited, as the Fed's next monetary policy meeting is due to take place in a week's time.

Unfortunately, this last statistic before the Fed's big talk 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)", says Christopher Dembik, analyst at Pictet AM.

Investors will also be watching Wall Street's reaction to the first debate between the two candidates in the US presidential election, 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 ahead of the November 5 vote, with 55% of viewers awarding her victory against 45% for the Republican candidate.

By way of comparison, in a poll conducted prior to the confrontation, Kamala Harris only garnered 49.5% of voting intentions, against 50.5% for the New York businessman.

'While Trump focused on the failures of the current administration, Harris unveiled a more forward-looking vision', deciphered the Danske Bank teams.

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

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

In French company news, Orange borrows 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) met its primary and secondary objectives in adults with moderate to severe forms of the disease.

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