Paris (AFP)

The Paris Bourse advanced 0.66% at mid-session Friday, driven by bond yields paradoxically falling as US inflation accelerated once again in May.

At 1:30 p.m., the CAC 40 index took 43.20 points to 6,589.69 points.

Thursday, it had recorded a small decline of 0.26%.

For the moment, the markets have been little affected by the 5% yoy acceleration in consumer price increases in May in the United States, the highest in 13 years.

They seem to agree with the rhetoric of central banks according to which the rise in prices is a one-off phenomenon.

Investors welcome "the still accommodating attitude of the ECB while estimating that the tensions on prices are only temporary but activity promises to be limited on the eve of the weekend for lack of a major macroeconomic indicator", observes Franklin Pichard, director of Kiplink Finance.

The European Central Bank (ECB), which on Thursday maintained its accommodating monetary course, considers a tightening of the financing conditions of the economy in the euro zone "premature" so as not to jeopardize the recovery.

Market participants, however, do not rule out that the Frankfurt institution begins to discuss a decrease in its monetary support at its next meeting on September 9.

Next step: the Fed's meeting next week (Tuesday and Wednesday), which should maintain an accommodative policy despite accelerating inflation, awaiting lasting improvements on the employment front before considering a reduction of its rate of asset purchases, "said Mr. Pichard.

The market therefore expects the US central bank to also maintain its accommodative policy on Wednesday and considers that discussions on slowing down its asset purchases will not take place before its Jackson Hole symposium in August.

The Central Bank of Russia for its part increased its key rate on Friday for the third time in a row, from 0.5 point to 5.5%, while the country has been facing an acceleration in inflation for months.

Renault and Stellantis go up the slope

Largest increase in the CAC 40, Renault took 5.67% to 36.43 euros after its setbacks linked to the announcement on Tuesday of its indictment in France in the investigation of fraud in pollution control of old generations of diesel engines .

Also destabilized by the indictment of Peugeot and Citroën this week in the scandal of "Dieselgate", Stellantis (+ 0.68% to 17.1 euros) resumed colors.

Good score for Scor

The title climbed 7.62% to 28.09 euros after the mutual insurer Covéa (brands MMA, MAAF and GMF) and the reinsurer Scor signed a "transactional memorandum of understanding" putting an end to the conflict which has since opposed them. 2018.

Orange publishes the conclusions of its internal investigation

The title yielded 0.92% to 10.35 euros while the telephone operator must publish the results of its internal investigation this Friday, after the breakdown of emergency numbers last week during which at least five deaths occurred, including that of a 28 month old child in Vendée.

EssilorLuxottica sees better on GrandVision

The optical giant has obtained the authorization of the Turkish authorities for the acquisition of the Dutch optician GrandVision, the last regulatory green light that remained to be obtained, but indicates that it is still awaiting "a decision arbitration ".

The title gained 1.72% to 148.84 euros.

© 2021 AFP