(CercleFinance.com) – The Paris Stock Exchange ends the session with a limited decline of 0.16%, to 7,571 points, penalized by Renault and URW (-1.3%) which eclipse the dynamism of Teleperformance (+4%) .
The session was marked by low volumes with barely 2 billion euros traded since the opening.
The easing of rates on 10-year US T-Bonds as well as on the German Bund at the same maturity (to 3.86% and 1.95% respectively) maintains optimism regarding a relaxation of monetary policies in 2024.
The markets remained indifferent to the four US figures of the day: no reaction to the downward revision of third-quarter US GDP growth from +5.2% to 4.9% (final estimate).
No reaction to the announcement of a further deterioration of the ‘Philly Fed’ index which stood at -10.5 this month against -5.9 in November, while economists expected it rather around -3.
No reaction to the -0.5% decline in the indicator index in November (after -1% in October): the Conference Board which calculates these figures anticipates a recession at the start of 2024.
Finally, no reaction either to weekly unemployment registrations which recovered marginally (+2000 to reach 205,000) at the end of the week of December 11, compared to the previous week.
All these current data would support the scenario of a ‘soft landing’, or even that of a ‘fairy tale’ (‘goldilocks’) combining moderate growth and low inflation (no recession, no significant drop in profits companies).
But investors could be hesitant ahead of household income and spending figures, which will include the ‘PCE’ price index, closely monitored by the Federal Reserve.
The dollar falls again against the euro which rises towards $1.10 (+0.4%).
Oil prices are consolidating horizontally: Brent falls 0.2%, to $79 per barrel.
In French company news, Airbus announces that the Spanish Ministry of Defense has ordered 16 Airbus C295s in maritime patrol aircraft (MPA) and maritime surveillance aircraft (MSA) configuration, a contract for an amount of almost 1.7 billion euros.
Casino announced on Thursday the convening of an upcoming meeting intended to allow its shareholders and creditors to vote on the draft accelerated safeguard plans.
Neoen announces that it has won 104.4 MWp of solar projects during the last government call for tenders in France managed by the Energy Regulatory Commission (CRE), thus ranking itself to date, with this latest success, the first winner of the CRE calls for tenders.
Groupe Crit announces the signing of a memorandum of understanding relating to the acquisition of a majority stake of 57.7% in the capital of Openjobmetis, the sixth player in temporary employment in Italy, at a price of 16.50 euros per action.
Finally, the British start-up Exscientia announced on Thursday an extension of its strategic collaboration agreement with Sanofi, which will be reinforced by a new program.
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