(CercleFinance.com) – The stock market is up nearly 0.4% this morning, around 7,575 points, benefiting in particular from the performances of EssilorLuxottica (+1.8%), Hermès (+1.4%) or again Teleperformance (+1%).
Remember that yesterday, the Parisian index had reached the historic level and never reached of 7582 points, an exploit which could be repeated – and postponed – today, despite the imminence of monetary policy decisions of the central banks (Fed tonight, BCE tomorrow).
At the end of two days of meetings of its monetary policy committee (FOMC), the Fed must publish its press release at around 8 p.m. before the traditional press conference of its president, Jerome Powell.
For the third meeting in a row, the Washington institute is expected to leave its rates unchanged, a posture justified by the continued slowdown in inflation, confirmed yesterday by the latest consumer price figures.
‘The new projections will confirm that rate cuts are envisaged in 2024, but without giving any indication on the date of the first reduction’, predict the economists at Oddo BHF.
While waiting for the Fed’s announcements, market participants will be able to look at new indicators which will allow them to assess the reality of the Fed’s monetary easing plans.
In this context of searching for possible clues, investors will closely monitor the publication of industrial production prices in the United States at 2:30 p.m.
In the euro zone, industrial production figures, expected at 11:00 a.m., should confirm the loss of speed in the European manufacturing sector and the increasingly real threat of a recession.
The yield on 10-year US government bonds fell towards 4.19% (-1.7pt) following the unsurprising inflation figures published yesterday in the United States, while its German equivalent returned towards 2. 20% (-2.7 pts).
On the foreign exchange market, the euro is stable, around $1.0791/euro.
On the oil front, crude prices continue to contract, with a barrel of Brent at $73 (-0.5%), while the American Energy Information Agency (EIA) has revised the increases its production forecasts.
‘This means that the market will remain well supplied while demand is in free fall,’ emphasized Danske Bank analysts this morning.
In the news of French companies, Bouygues Construction announces that it has signed a contract for the construction of the new Trousseau hospital, located in the heart of the metropolis of Tours, a project aimed at restructuring the care offer and improving the care of patients.
Lagardère announces that its board of directors has unanimously decided, on the recommendation of the nominations, remuneration and CSR committee, to co-opt Yannick Bolloré as director, replacing René Ricol.
Eutelsat Group announces an exclusive distribution agreement between its branch Eutelsat OneWeb and the Libyan telecoms operator RLTT, with a view to the deployment of high-speed and low-latency connectivity services throughout the Libyan territory.
Renault Group indicates that it has sold 211 million Nissan shares to Nissan, representing 5% of the Japanese group’s capital, an operation generating a cash flow of 764 million euros for the French manufacturer.
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