The Paris Bourse (+1.5%) flirts with the 7,200 mark: the CAC literally took off vertically at 2.30 p.m. on the publication of the US CPI... with a surge of +60pts in one minute.

This is a rare example of an intraday "gap" triggering a wave of panic buying and propelling the CAC40 towards 7,190, i.e. 110pts above the day's lows.190, i.e. 110pts above the day's lows.

The CAC index and then the SBF-120 are driven by ST-Micro (SOX jumps +3.6% on Wall Street), then the automotive sector (Forvia +8.5%, Valéo +10%) and real estate (with Unibail at +5.8%), then all the stocks massacred in October (Worldline, Téléperformances, Alstom, etc.)....).

The euro-Stoxx50 gains +1.6% (to 4,300) versus 0.1% before the US inflation figures.
Bullish fireworks on Wall Street, with the Nasdaq back above 14,000 (+2.3% to 14,080) for the first time since the end of August (i.e. +11% in a straight line since October 26).
The S&P500 jumps +2% (to 4.500, the best score since September 14) and the Dow Jones by +1.5% (towards 33,850)

The publication of the latest inflation figures in the United States has completely dispelled fears of a tightening of US monetary policy in December, but also by May 2024.

The gradual easing of inflation has been confirmed by the Labor Department: the US consumer price index rose by 3.2% in October compared with the same month in 2022, compared with +3.7% in September.

Excluding energy and food products, two traditionally volatile categories, the annual inflation rate stood at 4% last month, also slightly below the broker's forecast (4.1%).

On the bond market, the readjustment of rate hike prospects has resulted in a sharp drop in Treasury yields, with ten-year paper easing by 18 basis points to 4.456%.
In Europe, the easing of OATs and Bunds seems to have mirrored that of T-Bonds, with Italian BTPs down 15 basis points to 4.416%, and BTPs down 13 basis points to 3.163% and BTPs down 12 basis points to 2.60%.

At the same time, the dollar is depreciating sharply against the euro (down -1.3%), which is taking advantage of this to climb back to around 1.0835 against the greenback, its highest level since early September.

The Dollar Index fell -1.1% to 104.50, its lowest level since September 12.

The euro was also bolstered against the dollar and other currencies by a ZEW economic sentiment index for Germany - reflecting the expectations of German financial market experts - which climbed 10.9 points in November to 9.8, returning to positive territory for the first time since April.

Increased economic expectations are accompanied by a much more optimistic outlook for the German industrial sector and for stock markets at home and abroad", emphasizes ZEW President Professor Achim Wambach.

He also points to the near-stability (+0.1 points) of the index assessing the economic situation in Germany, at -79.8 points, which in his view 'confirms the impression that Germany's economic development has reached its lowest point'.

In French company news, Airbus announces an order from Egyptair for 10 A350-900 aircraft, each with a capacity of 340 seats, to meet growing demand for air transport.

Technip Energies announces the creation of Reju, an innovative company that will design new solutions for the regeneration of plastic fibers contained in large quantities in textiles that are not recycled and end up as waste.

Arkema announced last night that it had successfully placed a €700 million bond issue maturing in 6.5 years and bearing an annual coupon of 4.25%, in order, among other things, to extend the maturity of its debt.

Ipsen and Genfit announce the complete results of the pivotal phase III ELATIVE study, which will be presented orally at the American Association for the Study of Liver Diseases (AASLD) congress and published in the New England Journal of Medicine.

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