(CercleFinance.com) – The Paris Stock Exchange is stable this morning, moving around 6820 points, at the start of a week which will be marked by the publication of numerous quarterly results and by the ECB’s monetary policy decision.
If today’s session promises to be calm, the coming days will see technology giants Microsoft, Meta and Amazon publish their quarterly results.
According to Dan Ives, star analyst at Wedbush Securities, these publications should illustrate the resilience of spending in the sector and the favorable effect of the emergence of AI, thus supporting the Nasdaq.
According to the professional, American technology stocks could further increase by 12% to 15% by the end of the financial year.
The approach of the meeting of the European Central Bank (ECB), scheduled for Thursday, should nevertheless encourage investors to exercise some caution.
While a status quo on rates is widely expected, market participants will be on the lookout for any indication regarding the trajectory of inflation and the impact of the recent surge in bond yields.
The major world stock markets ended the past week with marked weekly losses, weighed down by a yield on ten-year Treasuries which is now close to the critical threshold of 5% in the United States.
If the latter fell somewhat to 4.92% on Friday, it increased by more than 30 basis points over the past week, its strongest weekly increase since April 2022. This morning, it returned to the increase to come close to 4.99%.
‘I continue to worry about how markets will fare at such high levels, particularly in the United States,’ says Jim Reid, market analyst at Deutsche Bank.
‘We are coming out of a period of 10 to 15 years during which bond yields and interest rates were low, zero, or even negative in developed countries against a backdrop of quantitative easing (QE), the only means that existed to finance the enormity of the global debt burden,’ he underlines.
The most important statistic of the week will be the first estimate of third-quarter US GDP, expected Thursday before Wall Street opens.
Economists on average forecast growth of 4% over the period from July to September, driven by strong consumption, after a gain of 2.1% in the second quarter.
The PMI activity indices in Europe should also make investors react tomorrow, as will the Ifo business climate index in Germany, which will fall on Wednesday.
US household income and spending figures, which include the core PCE inflation index closely watched by the Fed, will also be on the agenda at the very end of the week.
In French company news, Teleperformance announces that 98,448,171 shares representing approximately 98.45% of the outstanding share capital of Majorel were tendered as part of the offer, which the group has therefore declared to be unconditional.
TotalEnergies announces that it has joined forces with Corio Generation and Rise Light & Power to jointly develop the Attentive Energy offshore wind project, located off the coasts of New York and New Jersey, in the United States.
Icade publishes a turnover of nearly 1.02 billion euros for the first nine months of its 2023 financial year, up 3.8% (+3.9% at constant scope) compared to the same period. period of the previous year.
Finally, Airbus Defense and Space announces that it has signed two contracts worth a total of 1.2 billion euros for capacity improvement and in-service support for the Army’s A330 MRTT (Multi Role Tanker Transport). French Air and Space.
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