BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The CAC-40 is trading nearly half a percent lower as the spike in inflation to the highest level since December 1985 impacted investor sentiment. Data showed that annual inflation rate for March accelerated to 4.5 percent, higher than market forecasts of a 4.3 percent reading. Surge in energy prices contributed maximum to the increase.
Producer prices in February also rose 1.1 percent on a monthly basis, albeit at a slower pace than the 4.7 percent jump recorded in January.
The CAC-40 is currently trading at 6708.72, down 0.49 percent from Wednesday's close. The day's trading has been between 6705 and 6776.
Distillery brand Pernod Ricard rallied close to 2 percent buoyed by recommendations from two major brokerages. Waste management solutions provider Veolia Environnement gained 1.5 percent while utilities business Engie gained 1 percent. Insurance business AXA and retailer Carrefour recorded gains of less than a percent.
Worldline that provides payments and transactional services has dropped more than 3 percent following news that that Apple is also developing technology and infrastructure in the area. Publicis Groupe has shed near to 2.5 percent. Societe Generale, Renault and Arcelormittal have all declined more than 1 percent.
LVMH tops the volume charts with a 65.7 million trading volume. The scrip has lost 0.94 percent. Total Energies follows with a turnover of 64.1 million. The scrip is trading 1.19 percent lower, tracking the fall in crude prices, amidst the U.S. announcing plans to release crude oil from its strategic reserves.
The EURUSD pair hovered around 1.1101, around 0.49 percent lower than the closing level at Wednesday, as the Dollar Index added 0.43 percent to touch 98.21, versus 97.79 on Wednesday.
The ten-year bond yield has decreased by 7.26 percent to 1.003 versus 1.082 percent on Thursday.
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