(CercleFinance.com) – The Paris Stock Exchange ended the session with a gain of 0.8%, at 6,924 points, notably driven by luxury stocks, like Kering (+3.2%) and LVMH ( +2.3%).
For its part, the Euro-Stoxx50 gained nearly 1% and, across the Atlantic, Wall Street was also on the rise with +0.2% on the Dow Jones, +0.5% on the S&P500 and + 0.8% on the Nasdaq.
Tomorrow, investors will watch with interest the latest US inflation figures. Economists are hoping for a further slowdown (towards 6.5 or 6.6%), after 7.1% in November.
Another meeting to follow, the big banks such as JPMorgan Chase, Bank of America, Citi and Wells Fargo will kick off the quarterly results season on Friday.
Earnings for companies listed on the S&P 500 index are expected to fall 4.1% in the fourth quarter of 2022, according to estimates from FactSet, and good surprises could, again, be a bullish factor.
Few figures were on today’s agenda on Wednesday: data released by the US Energy Information Agency (EIA) shows that crude inventories stood at 439.6 million barrels during the week of January 2 in the United States, signaling an increase of 19 million barrels compared to the previous week.
For their part, inventories of distilled products – including heating oil – fell (-1.1 million barrels) while gasoline inventories rose by 4.1 million barrels compared to the previous week.
Finally, the EIA indicates that the refineries operated at 84.1% of their operational capacity during this same week, with an average production of 8.5 million barrels/day.
The barrel of Brent rose by 2.8%, and is approaching $82, the barrel of WTI is experiencing the same progression and is close to $77.
And this does not move the bond markets since the rates suddenly ease by -12Pts on our OATs at 2.6780% and -11Pts on the Bunds at 2.19%, then -17Pts on the Italian BTPs at 4.04 %.
The improvement is a little more timid on the US T-Bonds at 4.575% (-4.5 Pts).
In corporate news, LVMH announces the appointment of Pietro Beccari, who has led Christian Dior Couture since 2018, as CEO of Louis Vuitton, succeeding Michael Burke who will take up new duties directly with the luxury group’s CEO, Bernard Arnault .
Dassault Aviation announced yesterday that its Mérignac factory had delivered the Rafale B359 to the F3R standard to the Direction générale de l’armament on December 29, 2022. ‘This event marks the resumption of Rafale deliveries to France after a four-year interruption for budgetary reasons,” says Dassault.
Airbus is in preliminary negotiations with Atos (+6.2%) to take a stake of up to 29.9% in the capital of Evidian according to Les Echos. The Orange group would also be interested according to the daily.
Finally, the pleasure craft manufacturer Fountaine Pajot indicates that its order book, covering both the 2022-23 financial year and a large part of the years to follow, allows it to envisage growth for the 2022-23 financial year. between +10% and +15%.
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