(CercleFinance.com) – After having evolved beyond 7,500 points for a long time, even briefly pointing up to 7,526 points, the betting exchange lost some ground at the end of the day. The Parisian index nevertheless ends the session on an honorable note, climbing 0.29%, to 7497 points, notably driven by Sanofi (+2.2%), URW and TotalEnergies (+1.5%).
The recent evolution of the economic situation, which lends credence to the thesis of a soft landing for growth, seems to have reassured investors.
Moreover, the generally positive start to the earnings season revived risk appetite, as did the unsurprising speech given by the major central banks last week.
With 80% of S&P 500 companies doing better than expected on earnings so far (according to FactSet), markets are set for another busy week on the corporate earnings front, with the publications of many rating heavyweights, such as Amazon and Apple.
In Europe, the results of Adidas, BMW, bp and Ferrari are expected in the coming days.
To this busy news will be added Thursday the announcement of the monetary policy decisions of the Bank of England (BoE).
On the macroeconomic front, investors learned today of the first estimate of inflation in the euro zone for the month of July, as well as economic growth in the region over the second quarter.
Inflation slowed in July in the euro zone due to the fall in energy prices: the consumer price index (HICP) contracted to 5.3% over one year, against +5.5% the previous month, after +6.1% in May and +7% in April (thanks to the 6.1% drop in energy prices).
But in ‘core’ data, inflation came out at 6.6% over one year after 6.8% in June.
Moreover, the GDP of the Eurozone would have progressed by +0.3% in the 2nd quarter, despite a symmetrical contraction of the Italian GDP.
Little reaction on bonds, yields deteriorated marginally by +1 basis point on OATs and Bunds at 3.038% and 2.467% respectively
In the news for French companies, following their entry into exclusive negotiations announced last April, Worldline and Crédit Agricole announce the signing of a binding agreement, specifying the outlines of their partnership project in electronic banking services for merchants.
Eurazeo has entered into a financing agreement with the alternative asset manager Blackstone aimed at supporting the growth of the Premium group, a savings and retirement products broker in which it is the majority shareholder.
Wendel indicates that it has signed an agreement for the sale of Constantia Flexibles, one of the world leaders in the flexible packaging market for consumer goods and pharmaceuticals, to a subsidiary of One Rock Capital Partners.
On the occasion of its half-yearly publication, Legrand announces that it is raising its 2023 objectives to henceforth aim for growth in its sales excluding the exchange rate effect and the impacts of Russia of between +5 and +8% (compared to +2 and +6% previously) .
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