(CercleFinance.com) – The Paris Stock Exchange is currently trading at equilibrium, around 7,520 points, after briefly visiting 7,550 points shortly after the opening.
With the arrival of the quarterly results season, market players will find out this week whether the rebound of recent weeks has marked the start of a real upturn or whether the recent episode of stress linked to the banking crisis has constituted a warning to be taken seriously.
Until then, the stock market rebound has been driven by the hope of a forthcoming pause in the cycle of interest rate hikes by the major central banks, but also by economic indicators considered to be rather encouraging.
These factors have reinforced optimism about a possible ‘soft landing’ for growth, which would see inflation come down sharply without, however, leading to the economy entering a recession zone.
The CAC now seems to be well established in an ascending corridor and the recent rise in the market has created some buying signals, but the risk of a return to a bear market has not completely disappeared.
This first full week of the results season should make it possible to test the resistance of stock markets, particularly on the side of Wall Street.
Several heavyweights, including Bank of America, Netflix, Tesla, J&J, Morgan Stanley and Procter & Gamble, are planning to publish their accounts in the coming days.
In Europe, participants will take note of the quarterly performance of a few heavyweights of the caliber of ASML, SAP or Nokia.
Traders should also study the latest PMI indices, due Friday, to learn more about the reality of the current ‘headwinds’ and the imminence of a possible recessionary threat.
In the news of French companies, Forvia (Faurecia) posted a 29% increase in revenue for the first quarter of 2023 to more than 6.64 billion euros, with in particular a significant effect of scope linked to an additional month of Hella consolidation.
TotalEnergies announces the delivery of the first LNG cargo to the Dhamra LNG terminal, located on the eastern coast of India and owned and operated by ATPL, a 50-50 joint venture between TotalEnergies and Adani.
Renault said this morning that its global sales reached 354,545 units in the first three months of the year, an increase of 9% compared to the first quarter of 2022.
Finally, Neoen announces that it has won 49.8 MWp of solar projects during the last government tenders in France, managed by the CRE.
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