(CercleFinance.com) – The Paris stock market is seeing its gains drop imperceptibly, below 0.4% (just like the E-Stoxx50 at around +0.35%), so that the CAC40 is at the bottom from the 6.475/6.500 range that has been trapping it since the open.
Paris is moving towards a close at the lowest of the day, in the wake of bond markets not very strong.
The volumes on the CAC are insignificant, barely 1.251 billion euros exchanged in 6 a.m., and less than 400 million since 1 p.m.
The start of a new stock market deadline (‘January’) does not cause an influx of cash and the ‘window’ dressing operations also seem to be at a standstill, probably completed since this Friday 16/12 (‘4 witches’) .
On Wall Street, the month of January started just as softly with a Dow Jones at +0.1%, an S&P500 at -0.3% and a Nasdaq at -0.8%: in Europe, the bias is slightly bullish, at New York, slightly bearish.
The week that opens on Monday is traditionally a quiet period for the markets, investors preferring to protect their portfolios and focus on preparations for Christmas, if they have not simply gone on vacation.
Among the indicators for the week are relatively secondary figures in the United States, such as the Conference Board’s leading indicators, household spending or durable goods orders.
The only statistic expected today, the Ifo index of the business climate in Germany, showed a small rebound in December (to 88.6 against 86.4), in line with the evolution of the PMI and the ZEW.
This penultimate week of the year will above all offer investors a welcome respite to digest the recent announcements on the future evolution of monetary policies.
On the bond front, the deterioration that began last Thursday continues with +3pts on our OATs at 2.71%, +35pts on Bunds at 2.19% and +7pts on Italian BTPs at 4.37% (the scores were still less flattering this afternoon).
The Euro loses a few fractions against the $ at 1.0580… the FOREX is also very calm (0.3% volatility).
In the news of French companies, EDF announces that it is adjusting the timetable for the Flamanville 3 project, with nuclear fuel loading for the reactor now planned for the first quarter of 2024 and the estimated cost at completion going from 12.7 to 13.2 Billions of Euro’s.
Sanofi and Innate Pharma announce the expansion of their collaboration, granting Sanofi a license to the Natural Killer (NK) cell-engaging antibody program targeting the B7-H3 protein from Innate’s ANKET platform.
Manitou announces its acquisition of an 82% stake in easyLi, a specialist in the design and production of lithium-ion batteries, a strategic operation that allows it to acquire specific skills as part of its energy transition.
Finally, Danone posted one of the best performances of the CAC 40 on Monday morning on the Paris Stock Exchange (more than 1.5%), the title benefiting from an increase in recommendation from RBC, which highlights a portfolio of activities less off-putting than perceived by the market.
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