Fall in European markets after the ECB, American inflation slows – 10/10/2024 at 5:53 p.m.

Fall in European markets after the ECB, American inflation slows – 10/10/2024 at 5:53 p.m.
Fall in European markets after the ECB, American inflation slows – 10/10/2024 at 5:53 p.m.

(AOF) – European indices finished in the red after the publication this afternoon of inflation figures in the United States. It increased by 2.4% in September at an annual rate after 2.5% in August. For its part, the ECB published the minutes of its last monetary policy meeting. It signals that overall inflation should start to rise again towards the end of the year. On the values ​​side, brokers are questioning Airbus’ ability to achieve its delivery target for 2024. The CAC 40 lost 0.24% to 7541.59 points and the Eurostoxx 50 lost 0.23% to 4971. .03 points.

GSK

(GlaxoSmithKline) gained 3.10% to 1503.25 pence and reached first place in the Footsie 100 index after the announcement of an agreement in the Zantac case. The British pharmaceutical company plans to settle 93% of the complaints (or around 80,000 cases) brought before US state courts against this drug for an amount of up to $2.2 billion. GSK specifies that this settlement will be made without acknowledgment of liability or change in its growth program or its investment projects.

Last night,

Airbus

(+0.36% to 127.90 euros) revealed its commercial performance for the month of September. The aircraft manufacturer has delivered 50 commercial aircraft to 29 customers. At the same time, 235 gross orders were recorded. It has delivered 497 devices since the start of the year to 77 customers and it plans to deliver around 770 devices in 2024. This objective was lowered at the end of June during the profit warning. Airbus previously targeted 800 deliveries. Brokers are questioning Airbus’ ability to achieve this objective given its performance at the end of September.

Valneva

(-1.54% to 2.55 euros) confirmed its objectives during its investor day in New York. The vaccine specialist is targeting a 2024 turnover of between 170 and 190 million euros, with product sales between 160 and 180 million and R&D expenses of between 60 and 75 million euros. Valneva plans to burn significantly less cash this year than in 2023.

Macroeconomic figures

On a monthly basis, retail sales in Germany increased by 1.6% in August in Germany after +1.5% the previous month.

The ECB has published the minutes of its latest monetary policy meeting. Headline inflation is expected to rise again towards the end of the year, “in part because previous falls in energy prices would no longer be reflected in annual rates.” According to the latest projections from ECB services, overall inflation should average 2.5% in 2024, 2.2% in 2025 and 1.9% in 2026, notably reaching 2% during the second semester of next year.

The US consumer price index increased by 2.4% in September on an annual basis, against a consensus of 2.3%, after 2.5% in August. The monthly increase is 0.2%, compared to 0.1% consensus after 0.2% the previous month. Core inflation, a measure monitored by the Fed, rose to 3.3% on an annual basis, above the consensus of 3.2%, and at 0.3% on a monthly basis, compared to 0.2%. of consensus.

The number of weekly unemployment claims stood at 258,000 last week, against a consensus of 231,000, after 225,000 the previous week.

U.S. gas inventories rose by 82 billion cubic feet of gas over the past week, compared with expectations for an increase of 73 billion cubic feet, following an increase of 55 billion the previous week. Inventories are 124 billion cubic feet higher than this time last year and 176 billion cubic feet higher than the 5-year average of 3,453 billion cubic feet.

Around 5:40 p.m., the euro lost 0.13% to 1.0929 dollars.

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