The Paris Bourse ended the half-year on a high note with a gain of +1.3%, bringing the CAC40 'GR' to within 0.2% of its all-time best close (22,370Pts).
The CAC40 broke through the 7,400 mark (resistance tested on March 6 and June 16) and, at 7,412, reached its highest level since May 23.
The annual performance is 14.3%, while the CAC 'GR' is +17.5%.

This session - the last of the month, quarter and half-year - is punctuated by a whole series of macroeconomic publications, starting with the first Eurozone inflation figures for June.
Inflation continues to contract in France, at +4.5%, marking a marked slowdown following a rate of +5.1% observed the previous month.

Furthermore, in May 2023, still in France, household consumption expenditure on goods rose by 0.5% over one month in volume terms, following a 0.8% fall in April (revised by +0.2 points on the initial estimate), according to Insee's CVS-CJO data.

This rebound was mainly due to higher consumption of energy (+2.2%), but food consumption was also up by 0.3%, while consumption of manufactured goods was down slightly (-0.2%).

Wall Street opened in the green following the publication of inflation figures which apparently ward off the risk of over-aggressive monetary tightening.
The Nasdaq climbed +1.1% and passed the +30% mark for the 1st half, in the wake of Apple, which broke through the $3,000 billion capitalization barrier.000Bn capitalization (with Microsoft, this represents 14.5% of the S&P500).

The Commerce Department announced that the PCE price index excluding food and energy - the Fed's preferred measure of inflation - rose by 4.6% in May, compared with 4.7% in April.

The sequential rise was only 0.1%, a sharper-than-expected slowdown: the disinflation cycle is continuing, but the Fed's monetary tightening cycle is not over, thanks to very robust housing figures and a resilient labor market.

As a guide, traders are now predicting a 25 basis point Fed rate hike next month with a probability of 86.8%, compared with a probability of 89.3% prior to the release of these figures.

The statistics published at 2:30 p.m. caused a symbolic easing in the yield on 10-year Treasuries to 3.85%, a level close to a one-month high of 3.87% last night.

Household consumption expenditure rose by 0.1% in May compared with the previous month in the USA, according to the Commerce Department, an increase broadly in line with expectations.

The dollar erased its recent gains against the euro in reaction to these statistics, bringing the single currency down to 1.0915.

On the oil front, U.S. light crude is regaining ground on the back of renewed appetite for risky assets, with WTI posting a gain of 0.8% to $70.4.

In French stock news, Sodexo posted third-quarter sales for fiscal 2023 of 6.03 billion euros, up 9.1%, with organic growth of 10.5% but slightly negative currency and scope effects.

Engie announces that it has revised upwards its net recurring profit target for 2023 to between 4.7 and 5.3 billion euros, instead of 'in the upper half of the range of 3.4 to four billion'.

Stellantis announced on Friday that it would be investing in the Australian-Norwegian company Kuniko to secure its supply of low-carbon nickel and cobalt sulfate.

Finally, Genfit shares climbed over 20% on Friday, taking the lead on the Paris market in early trading following the publication of encouraging results from a Phase III clinical trial.


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