The CAC-40 is trading in mildly positive territory as relief post the Fed’s rate hike on expected lines waned in the run-up to the monetary policy review by the Bank of England. BoE’s monetary policy review decision is expected later in the day.
The war against price-rise assumed centerstage again, relegating the war in eastern Europe and the war against the virus to the sidelines amidst higher readings on inflation in the Euro Area. Data released showed that the Euro Area’s final annual inflation reading for February has been revised to 5.9 percent from the 5.8 percent reported in the preliminary assessment. The inflation was at 5.1 percent in the month of January.
Sentiment has also been impacted as the inflation number came in at almost 3 times higher than the ECB’s target of 2 percent. Investors also weighed in the energy sector’s contribution of 32 percent to the price increase, amidst the war in eastern Europe that threatened to accelerate the oil prices further. Brent crude prices currently trading near $103 also impacted the anxiety around inflation as the sector contributed the highest to the price rise in the month of February.
The CAC-40 is currently trading at 6602.65, up 0.21 percent from Wednesday’s close. The day’s trading has been between 6530.79 and 6635.31.
Pernod Ricard rallied more than 2 percent., Thales, Veolia Environnement, Capgemini and Hermes International have added more than 1 percent.
Renault has dropped more than 4 percent. Alstom has shed more than 3 percent. Stellantis and Safran have both declined more than 1 percent.
Total Energies is the most active scrip with a turnover of 82.4 million. The scrip has gained 0.75 percent.
The EURUSD pair hovered around 1.1055, around 0.21 percent higher than the closing level at Wednesday, as the Dollar Index edged down to 98.21 from 98.62 on Wednesday.
The ten-year bond yield has decreased by 0.99 percent to 0.847 versus 0.855 percent on Thursday.
CAC-40 Mildly Positive Ahead Of BOE Decision
2022-03-17 11:26:18
