(CercleFinance.com) – The main European stock markets are up slightly this morning, Frankfurt and Paris gaining between 0.3 and 0.4% while London is in balance, in this so-called ‘four witches’ session, that is to say the quarterly expiration of four types of derivative products, as well as a new burst of statistics in the United States, including import prices and industrial production.
‘No matter what news breaks, operators remain confident in the future. The rise in underlying inflation in the United States pushes back the prospect of a rate cut, estimates Christopher Dembik of Pictet AM.
According to him, ‘it is likely that the publication of producer prices in the United States for the month of February this afternoon will not change the underlying upward trend of the market’.
In the meantime, Parisian operators have taken note of the consumer price index in France for the month of February, announced as a provisional estimate at +2.9% on an annual basis after +3.1% in January.
Over one year, consumer prices in France increased by 3% in February 2024, according to INSEE, which is therefore revising its provisional estimate.
In the bond compartment, the 10-year US T-Bonds are moving around 4.27% (-2 pts) while the German Bund of the same maturity is moving at 2.43% (+1.5 pts).
In securities news, Swisscom has signed binding agreements with the Vodafone Group plc to acquire the entirety of Vodafone Italia for 8 billion euros.
Shell Chemicals announced that it has recently started supplying bio-attributed and bio-circular propylene raw materials to Braskem.
Finally, Holcim announces that it will launch, on March 18, its previously announced share buyback program for a total amount of one billion Swiss francs until the end of 2024, with the cancellation of the shares to be approved during the Annual General Meeting in 2025.
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