(CercleFinance.com) – The Paris Stock Exchange gained nearly 1%, around 7,345 points, notably driven by TotalEnergies which assumes +3.7%.
Yesterday the markets were concerned about various headwinds affecting the banking sector, a fear which seems to have subsided today in view of the performance of BNP Paribas (+2.1%), Société Générale (+2%) and Crédit Agricole (+0.7%).
Investors nevertheless remain cautious on the eve of the publication by the US Department of Labor of the monthly report on consumer prices, which may have held up well in July.
As usual, traders will be looking for the long-awaited turning point in monetary policy tightening as signs of slowing inflation mount.
A slew of data out of the US recently suggested that inflation could soon approach the Federal Reserve’s 2% target without a recession being necessary.
The only indicator on the agenda, oil inventories in the United States reached 445.6 million barrels the week of July 31 in the United States, thus signaling an increase in inventories of 5.9 million barrels compared to than the previous week, according to data from the US Energy Information Agency (EIA).
Despite the increase in stocks, the price of a barrel of Brent rose by 1%, to $87, and by +1.4% for WTI, to $84.
On bonds, the yield of 10-year Treasuries stagnated around 4%, while that of 10-year German bunds rose by 1.4 pt, to 2.47%. French 10-year OATs stood at 3.03%, up 1.1 pt.
Finally, the euro has gained nearly 0.25% against the greenback and is trading around $1.0986.
The news is calm on the side of French companies, but note that Stellantis yesterday unveiled a new brand, called bproauto, intended to strengthen its offer of spare parts on the North American market.
In addition, AlphaValue renewed its buy recommendation on Sanofi on Wednesday, with a target price of 132 euros corresponding to an upside potential of 38%.
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