The CAC 40 index took 17.66 points to 6,540.94 points around 10:00 a.m., after rising 0.52% the day before, in the wake of Wall Street which soared in response to the slowdown in the rise in inflation. in the USA.

Investors had spent the first half of the week awaiting the publication of the American CPI, which remained unchanged over one month in July and stood at 8.5% over one year instead of 9, 1% in June.

Prices have leveled off, mainly thanks to lower fuel costs.

Core inflation, which excludes particularly volatile food and energy prices, also slowed to 5.9% year on year, while the markets were expecting it to rise (+6.1 % according to Factset).

The data "added to market hopes that the US central bank (Fed) need not pursue interest rate hikes as aggressively," said CMC Markets analyst Michael Hewson. .

The institution has been raising its rates since March.

In July, it had increased them by 75 basis points.

"Investors are now expecting a 50 basis point hike from the Fed at its September meeting," said John Plassard, investment specialist at Mirabaud.

The Fed "will probably want to see further evidence not only of a slowdown in inflation but also that it is halving from its current level," added Mr. Hewson.

As such, investors will be attentive Thursday to US production figures "which tend to be better indicators over the long term", according to Michael Hewson.

Quarantine area around Valneva

The title of the Franco-Austrian laboratory lost 2.71% around 10:00 a.m. after announcing Thursday to revise its profit forecasts sharply downwards, in a range of 340 million to 360 million euros for the year 2022, against a range included between 430 million and 590 million so far.

It also widened its net loss in the first half of 2022 over one year, penalized by its vaccine against Covid-19, whose sales were significantly reduced in the European Union.

© 2022 AFP