(CercleFinance.com) – The Paris Stock Exchange ends this first session of the week with a moderate gain of 0.28%, at 7956 points, driven by Thales (+2.2%), Bnp Paribas (+2%) and Airbus (+1.8%).
Initiatives remain limited today in Europe ahead of an intense week, which will be mainly marked by employment figures in the United States and the monetary meeting of the European Central Bank (ECB).
Market operators are especially awaiting the monetary policy meeting of the European Central Bank (ECB) on Thursday, at the end of which a ‘status quo’ is widely anticipated.
Its board of governors should continue to be vigilant regarding the process of disinflation at work on the Old Continent and postpone the debate on the first rate cuts until later.
The publication, on Friday, of a less pronounced slowdown than expected in inflation within the euro zone in February has also somewhat eased the pressure on the shoulders of the central bank.
‘It is above all the pressure on wages which prevents the monetary institution from lowering rates’, estimates Alexandre Baradez, head of market analysis at IG France
‘But it would nevertheless be surprising if a first reduction did not occur in the second quarter, perhaps not during the April meeting but probably more so at the June meeting,’ he specifies.
The week which begins will also be animated by a speech on Wednesday by Jerome Powell, the president of the Fed, before the Financial Services Committee of the House of Representatives.
Investors should also err on the side of caution before the publication, on Friday, of the monthly employment figures in the United States, which will perhaps constitute the high point of the week.
Given the strength of the American labor market in recent months, the figures from the Department of Labor could influence market expectations regarding the evolution of the monetary policy of the Federal Reserve, which will meet in two weeks.
The consensus expects an average of 200,000 job creations in February after the fireworks of January, which resulted in 353,000 new positions, or double market forecasts.
Investors will also continue to monitor political news in the United States with the organization of primaries tomorrow in around fifteen states, a crucial day known as ‘Super Tuesday’.
‘A very large victory for Biden and Trump in their respective camps is expected,’ the Oddo BHF teams reminded us this morning. ‘Unless bad luck happens, these will be the candidates on November 5,’ underlines the private bank.
The bond markets are moving in a dispersed order with -3Pts on our OATs (2.8700%) and Bunds but +4.2Pts on T-Bonds towards 4.2210%.
The Dollar crumbles by -0.2% towards $1.0860/E, and Brent is trading around $83.3 per barrel.
The Ounce of gold is heading towards a record close around $2,120/Oz (second crossing of $2,100 in history after December 4, 2023), an upward surge to monitor, and potentially to link to geopolitical news which is tends every day between NATO and Russia, Israel and Lebanon (which the markets have ignored since December).
Let us also note the performance of bitcoin which reached a new peak around $66,280 (+6.2%).
In French company news, Airbus announces that American Airlines has signed a firm order for 85 additional A321neo aircraft, bringing its total order for this type of aircraft to 219 aircraft.
Carrefour announces that it has entrusted an investment service provider (PSI) with a share buyback mandate over a period beginning on March 4, in accordance with the program for a maximum of 700 million euros announced alongside its results annuals.
Saint-Gobain announces that it has signed an agreement for the sale of its treated wood products business (posts, fences, railings) in Ireland (PDM) and the United Kingdom (Calders & Grandidge), to the Iivari Mononen group.
TotalEnergies announces that it has laid the foundations for cooperation with Bapco Energies, the national company in charge of Bahrain’s energy transition, for the optimization of the Sitra refinery and in the trading of its petroleum products.
Veolia announces the finalization of the sale of SADE-CGTH, its 100% subsidiary specializing in the construction and rehabilitation of water and infrastructure networks, to the public works group NGE, for an amount in value of company of 260 million euros.
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