The CAC 40 index took 30.52 points to 6,575.19 points around 10:30 a.m.

The day before, it had ended up slightly, reacting cautiously to the publication of US producer prices, markers of a slowdown in inflation in the United States.

Investors hope that a drop in inflation will make the American central bank (Fed) more accommodating, to the point of attenuating the policy of raising its key rates undertaken since March 2022.

“Market players currently seem unwilling to see the gap between wishes and reality. The level of inflation remains high and poses a serious threat to the medium-term economy, both in Europe and in the United States” , warns Andreas Lipkow, an analyst at Comdirect.

And this despite repeated interventions during the week by members of the Fed.

The head of the institution in San Francisco Mary Daly thus wanted to qualify the trend, recognizing "an improvement but no victory".

On the American side on Friday, "attention is focused on the latest announcements from the University of Michigan" which measures the American consumer confidence index, explains Michael Hewson, analyst at CMC Markets.

In July, the index showed a small recovery in confidence, to 51.5 points.

"If US inflation seems to be easing, the same thing happening in Europe seems difficult to envisage, energy prices being much more expensive there than in the United States", specifies Mr. Hewson.

Several indicators in Europe confirm the still gloomy context in Europe.

In France, inflation accelerated in July to reach 6.1% over one year after 5.8% in June, INSEE announced on Friday, adding that energy prices weighed on this development.

The unemployment rate is however almost stable in the second quarter of 2022 at 7.4% of the active population in France (excluding Mayotte) against 7.3% in the first quarter of the year.

In the UK, British gross domestic product (GDP) contracted by 0.1% in the second quarter as the country's purchasing power crisis is expected to worsen in the fall.

Bad vibes for TF1

The title of the private television channel lost 2.89% to 6.90 euros on Friday around 10:25 a.m. after Barclay lowered its recommendation to "underweight" against "overweight", Bloomberg reported.

Eutelsat stays the course

Although JPMorgan lowered its recommendation to "underweight" against "neutral", Eutelsat held on year after year to balance on Friday around 10:25 a.m. (-0.11%) at 8.72 euros per share.

Sanofi resumes (small) colors

After two days of cumulative fall of more than 12%, the title of Sanofi left, very gently, in the green (+0.27%) to 84.97 euros.

A note from UBS bank has notably revived fears about a dispute over a laboratory drug withdrawn from consumption in 2019 (Zantac).

© 2022 AFP