The Paris Stock Exchange moved slightly higher on Tuesday, with investors showing caution before the publication of indicators, particularly inflation, for the euro zone.
Around 10:15 a.m. Paris time, the CAC 40 was up slightly by 0.27%, or 19.83 points, to 7,465.52 points, after opening close to equilibrium.
The day before, the Parisian index jumped 2.24% to finish at 7,445.69 points, the highest since December 12.
But caution once again prevailed in Paris on Tuesday, with investors having in mind “French political risk, low liquidity and macroeconomic uncertainties in Europe”, explains Christopher Dembik, investment strategy advisor at Pictet AM.
Investors discovered a stable inflation figure in France in December.
For the last month of 2024, the consumer price index increased by 1.3% year-on-year, INSEE said on Tuesday.
In detail, in December, energy prices (+1.2%) recorded a slight rebound which was offset by the continued decline in manufactured products (-0.4%) and the stagnation of prices of food (0.0%), according to the provisional estimate.
For 2025, the Institute sees inflation falling to 1% in June.
In comparison, German inflation rose to 2.6% year-on-year in December, higher than expected, according to official data on Monday.
Investors are awaiting the first inflation estimates for the euro zone in December at 11:00 a.m.
“If inflation increases,” the European Central Bank, responsible for supporting European economies, “will not be able to ease financial conditions as much as it wants,” comments Ipek Ozkardeskaya, analyst for Swissquote Bank.
A scenario that is “positive for the valuation of the euro, but negative for equity valuations,” she continues.
Unemployment figures for November in the euro zone are also expected on Tuesday at 11:00 a.m. and, at 4:00 p.m., two American indicators, one on activity in services (ISM) and another on employment.
Sodexo unscrews
Around 10:20 a.m., on the Paris Stock Exchange, Sodexo shares fell 9.03% to 72.05 euros in a slightly rising market.
The collective catering and services group maintains its outlook for 2025 despite “a moderate start to the year” with turnover up 1.9% to 6.4 billion euros, according to a press release released on Tuesday.
Revenue growth is slightly below the consensus established by Bloomberg.
