French stock markets have shown a slight uptick on Wednesday morning as investors process the latest consumer price inflation figures from the country and anticipate the U.S. inflation report for insights on potential Federal Reserve interest rate changes.
According to the National Institute of Statistics and Economic Studies (INSEE), France's inflation rate remained stable in December, aligning with preliminary estimates.
The key CAC 40 index experienced an increase, gaining 23.80 points or 0.32%, reaching 7,447.47.
Among the performers, Michelin saw a rise of nearly 2.5%, while Sanofi, Orange, and Societe Generale recorded gains ranging from 1.8% to 2%. Other companies like Bouygues, Unibail-Rodamco, ArcelorMittal, Credit Agricole, and AXA also experienced increases between 1% and 1.6%.
Conversely, LVMH faced a decline of 1.4%, and Hermes International decreased by 1.1%. Companies such as Thales, L'Oréal, Pernod Ricard, and Publicis Groupe saw slight reductions.
The INSEE reported that consumer price inflation in France stood at 1.3% for December, consistent with November's rate and previously released provisional data.
Harmonized inflation marginally increased to 1.8% in December from the previous month's 1.7%, in line with projections, yet still below the European Central Bank's 2% target.
The report noted that while energy prices rebounded, this was counterbalanced by a more significant decline in the prices of manufactured goods compared to November, alongside stable food prices.
On a month-on-month basis, consumer prices rose by 0.2%, reversing a 0.1% decrease in November, consistent with earlier estimates. Similarly, the harmonized consumer price index increased by 0.2% following a 0.1% decline in the previous month.
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