The sluggish Paris Stock Exchange, awaiting US inflation

The Paris Bourse is moving around equilibrium (-0.02%) on Friday, patiently avoiding risk taking before the publication of an inflation indicator in the United States and new negotiations on the debt ceiling American.

The flagship CAC 40 index stagnated at 7,228.09 points around 9:55 a.m., after opening slightly higher. On Thursday, it slipped 0.33%, falling to its lowest closing level since late March after losing, at this point, 3.56% since the start of the week.

In the United States, despite days and nights of discussions, the teams of Democratic leader Joe Biden and the negotiators of the Republican camp have not yet found a budget compromise to raise the American debt ceiling and avoid a default. of the world’s largest economy, possibly as early as next week.

“The fears are still there and have even been exacerbated by Fitch’s decision to put the US debt on negative watch, that is to say with the risk of lowering the rating of US sovereign debt”, comments Sebastian Paris Horvitz, Research Director of La Banque Postale AM.

Most observers, however, are confident that an agreement will be reached. John Plassard, investment specialist at Mirabaud, asserts: “Let us be clear: the United States will not go bankrupt!”

US President Joe Biden was also optimistic on Thursday, assuring that there would be “no default”.

On Friday, investors’ attention will turn to the publication of the PCE index, the inflation indicator favored by the American Central Bank.

The morale of households in France remained generally stable in May, the French showing however a little more confident about their future financial situation and the evolution of the standard of living in the country, indicated Friday the INSEE.

Casino debt on the table

On the resumption of its quotation after three days of suspension, the action of the distributor Casino fell by 4.88% to 6.44 euros, consequence of the announcement of the opening of a conciliation procedure in order to renegotiate its important indebtedness. At the start of the session, Casino had lost more than 10%.

The action of its parent company Rallye also lost 3.30% to 0.97 euros, after having unscrewed up to 15% earlier.

Since the start of the year, the Casino stock has lost more than a third of its value and that of Rallye around 65%.

Rififi at TotalEnergies

The French hydrocarbon giant TotalEnergies (-0.31% to 54.88 euros) is preparing for an electric general assembly on Friday morning, scuffles between climate protesters and the police having already taken place before its opening.

Environmental activists and the government are pressuring the group to shift away from fossil fuels more quickly.

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