(CercleFinance.com) – The Paris Stock Exchange ends this first session of the week with a limited decline of 0.18%, to 7,332 points, notably penalized by Teleperformance (-3.3%), Alstom (-3.2% ) or even Thales (-1.8%), despite several attempts to return to balance.
If December is traditionally a good month for the stock markets, this start of the month is marked by the approach of the job creation figures in the United States for the month of November, expected on Friday.
After the better-than-expected inflation indicators published in recent weeks, this statistic promises to be decisive for the evolution of the Federal Reserve’s monetary policy.
As in previous months, investors are hoping for a middling figure that would give the Fed additional arguments to reduce its rates.
Jerome Powell, the head of the Fed, said Friday that it was premature to talk about a rate cut and assured that a hike remained on the table, but the markets seem to have decoded another message which said ‘we will lower rates rate earlier than expected’.
Friday’s statistics will be preceded on Tuesday by the ISM of services then on Wednesday by the ADP survey on job creations in the private sector while awaiting the Michigan consumer confidence index on Friday.
Other indicators on the agenda for the week include services PMIs in Europe, third-quarter retail sales and GDP for the euro zone and final inflation figures in Germany.
The easing of the last 5 weeks is interrupted in the US bond compartment: the ‘ten year’ returns +2 points to 4.242% but is still at its lowest levels since the end of August.
On the other hand, rates continue to ease in Europe where the German Bund still erases -2 points to 2.3430%, confirming the prospect of a recession in the second half of 2023.
The OAT 2033 follows suit with -2Pts at 2.908%.
Given the opposite trajectory of yields this Monday, the Euro continues to weaken (-0.6%) to $1.082/euro, while the oil market confirms its bout of weakness, the drop in production announced Thursday by the ‘OPEC+ is not compensating for the warning signs of a slowdown in demand.
Brent thus lost 1.3% to 78.3 dollars just like American light crude (West Texas Intermediate, WTI) which fell 1.3% to 73.5 dollars.
In French company news, TotalEnergies (-1.5%) announces having signed the investment agreement for Mirny, a $1.4 billion project which provides for the construction of a 1 GW onshore wind farm and 160 wind turbines.
Societe Generale announced on Monday that it had launched its first digital green bond, a new illustration of the services developed by the French bank in the digital securities segment.
On the occasion of COP 28 in Dubai, Veolia reaffirms its commitment to invest 1.6 billion euros by 2030 to phase out coal in Europe. At the end of 2023, it will have already made 500 million euros of investment in this regard.
ADP announces that its subsidiary ADP Ingénierie has agreed with the National Financial Prosecutor’s Office to put an end to the investigations to which it was the subject and relating to certain contracts concluded in Libya in 2007 and 2008, as well as in the emirate of Fujairah in 2011 .
Finally, Airbus announces the signature of a contract entrusting it with the last phase of the TRUTHS mission of the European Space Agency (ESA), as part of the ESA Earth observation program (Earth Watch) for the study of climate change.
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