The Paris stock market, which has been on an upward trend since the start of the week, confirmed this momentum this morning, gaining nearly 0.7% around 7370 points, as investors await a flurry of economic indicators likely to influence the next monetary policy decisions of central banks.

Indeed, this session - the last of the month, quarter and half-year - will be punctuated by a whole series of macroeconomic publications, starting with the first inflation figures in the Eurozone for June.

In the early afternoon, investors will also be paying close attention to the release of the US core PCE price index, the Federal Reserve's preferred inflation indicator.

Will the FOMC give in and bring US government bond yields back to levels that have caused major strains on regional bank balance sheets, or will it wait to see whether the brakes on growth in place are having the desired effect?" asks Muzinich & Co.

Still on the statistics front, the provisional estimate produced by Insee at the end of the month showed that, over a year, consumer prices in France were set to rise by 4.5% in June, marking a marked slowdown after a rate of +5.1% observed the previous month.

This further fall in the inflation rate would be due to the downturn in energy prices (linked in particular to the further year-on-year fall in petroleum product prices) and the slowdown in food prices.

Meanwhile, in May 2023, again in France, household consumption expenditure on goods rose by 0.5% over one month in volume terms, following a 0.8% fall in April (revised by +0.2 points on the initial estimate), according to Insee's CVS-CJO data.

This rebound was mainly due to higher consumption of energy (+2.2%), but food consumption was also up by 0.3%, while consumption of manufactured goods was down slightly (-0.2%).

In French stock news, Sodexo posted third-quarter sales for its 2023 fiscal year of 6.03 billion euros, up 9.1%, with organic growth of 10.5% but slightly negative exchange rate and scope effects.

Engie announces that it has revised upwards its net recurring profit target for 2023 to between 4.7 and 5.3 billion euros, rather than 'in the upper half of the 3.4 to 4 billion euro range'.

Stellantis announced on Friday that it would be investing in the Australian-Norwegian company Kuniko to secure its supply of low-carbon nickel and cobalt sulfate.

Lastly, Genfit shares climbed over 20% on Friday, taking the lead on the Paris market in early trading following the publication of encouraging results from a Phase III clinical trial.

Copyright (c) 2023 CercleFinance.com. All rights reserved.