(CercleFinance.com) – The gains on the European stock markets appear to be quite hesitant (stability in London, +0.4% in Frankfurt, +0.2% in Paris), the mood seeming to be on hold after the simultaneous achievement closing records on all major global markets.
The recent rise in indices has revived doubts among some investors about the valuation levels of shares which some analysts describe as ‘overvalued’, or even consistent with the creation of a ‘bubble’.
In this context, they will need economic indicators that remain consistent with the ‘goldilocks’ scenario, that is to say reassuring about the state of growth, but not sufficiently vigorous to rule out the prospect of future rate cuts.
Also, operators could be attentive to American data from the afternoon, namely durable goods orders for February, then the Conference Board consumer confidence index.
In the meantime, on this side of the Atlantic, we note that Spain’s GDP growth is confirmed at 0.6% in the fourth quarter of 2023 compared to the previous quarter, and that France’s public deficit is is set at 5.5% of GDP for last year.
In stock news, Repsol gains more than 1% in Madrid, while the oil and gas group today launches a share buyback program involving 35 million shares, with a view to reducing its capital.
Stellantis, on the other hand, lost 1% in Paris and Milan, penalized by a downgrading of advice at Berenberg from ‘buy’ to ‘hold’ on the car manufacturer’s stock, despite a raised price target.
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