(CercleFinance.com) – The Paris Stock Exchange is stable this morning, around 7935 points, despite large movements on the market including +6.9% for Bouygues, +3% for Alstom and -11.2% for Eurofins Scientific and -3.8% for Edenred.
Investors are preparing for a more uncertain session, with concerns about valuation levels adding to questions about US inflation and rates.
Since their latest records, the stock markets seem to be looking for a direction, a breathing space which is not surprising after several weeks of progression.
Despite a promising start to the session, Wall Street ended in the red Monday evening, with buyer relays now becoming rarer after the Nvidia hurricane which hit last week.
According to strategists, the high valuations reached by stocks increasingly argue in favor of a pause.
‘The upward movement at work since the start of the year puts increasing pressure on the fundamentals so that they justify the significant valuations,’ underline Citi analysts.
In this sense, the publication on Thursday of the PCE index of consumer spending excluding food and energy, the indicator favored by the Federal Reserve to assess inflation, will serve as a test.
On the bond market, the pause in the stock markets does not favor a return on Treasuries, the yield on the American ten-year is moving around 4.27%.
The euro remains stable against the greenback, at $1.08/euro.
Brent is stable, around $82.4 per barrel.
In the news of French companies, the Bouygues conglomerate publishes a net profit group share of 1.04 billion euros for 2023, compared to 973 million the previous year, and a current operating profit from activities (ROCA) in increase of 19% to 2.41 billion.
Orange and Bnp Paribas announce that they have concluded their exclusive negotiations begun in June 2023, with the signing of agreements materializing their collaboration, and in particular a referencing agreement concerning the Orange Bank customer portfolio in France.
Eurofins Scientific publishes an adjusted net profit of 568 million euros for the past year, or 2.71 euros per share, as well as an adjusted EBITDA down 9.9% to 1.36 billion, however at the high end. from its target range of 1.32-1.37 billion.
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