The French CAC 40 index slightly edged higher on Friday after the release of the country’s CPI data. UK’s FTSE 100 slightly up by 29 points. Germany’s DAX index rose 30 points while the Euro STOXX 50 remained unchanged.
French Inflation Concerns
In July 2021, the Consumer Price Index (CPI) rose 0.1% over one month of July. The services prices advanced 0.7% as energy prices rose 2.2%. The food prices increased 0.1% after a 0.7% decline. The prices of manufactured goods slipped 1.8% after a 0.5% increase in June.
The seasonally adjusted consumer prices rose 0.4% in July after a 0.2% increase in June. On a year-on-year basis, consumer prices increased 1.2%. However, it eased from the 1.5% increase in June. The decline in inflation was driven by a 1.1% nosedive in the prices of manufactured goods.
Year on year, core inflation was up 0.4% in July down from 1.1% in June. The Harmonised Index of Consumer Prices (HICP) rose 0.1% over one month in July. On a year-on-year basis, the HICP rose 1.5% easing from 1.9% in the previous month. It was also weaker than the median estimate forecast of a 1.6% gain.
CAC 40 Movers
Bouygues SA was the best performer in the French CAC 40 index. Bouygues is a construction business. Its subsidiaries, Bouygues Construction, Bouygues Immobilier, and Colas, make the company a world leader in the construction sector. The company gained 2.42% in its stock earnings.
Stellantis NV is a French automobile company. The company’s stock has been up since the release of its earnings report. The company’s stock was up 1.13% on Friday. Stellantis raised its full-year profitability as strong demand and profitability boosted its result for the first half of the year.
ArcelorMittal is a multinational steel manufacturing corporation. The company gained nearly 1% in its stock earnings earlier on Friday. The rise in commodity prices has boosted the stock price for most steel producers.
STMicroelectronics is a French-Italian multinational electronics and semiconductors manufacturer. The company’s stock price plunged on Friday amid a global chip shortage.