(CercleFinance.com) – The Paris Stock Exchange should open without a clear trend on Wednesday morning in a market which promises to be particularly hollow on this Armistice holiday.
Around 8:15 a.m., the ‘futures’ contract on the CAC 40 index barely nibbled 1.5 points to 8,068 points, suggesting the start of the session around balance.
After a difficult month of April (-2.7%), the Parisian market has been moving in the right direction for a week, helped by Wall Street which applauded the reassuring employment figures published on Friday. last.
The renewed appetite for risk triggered by the news does not seem to be declining for the moment and the Parisian market gained another almost 1% yesterday to 8075 points, marking a third consecutive session of increase.
The flagship index is now only 1.6% from its historic closing high reached at the end of March, beyond 8,205 points.
The STOXX Europe 600 index, for its part, recorded a new historic peak yesterday evening.
Beyond the positive dynamic observed in New York, mainly due to the enthusiasm surrounding large technological capitalizations, investors now seem to be more positive about the economic situation in Europe.
Swiss asset manager Pictet AM announced yesterday that it had raised its recommendation on European stocks from ‘neutral’ to ‘overweight’, which it considers increasingly attractive.
From his point of view, the re-acceleration of activity on the Old Continent should allow companies to exceed the results forecasts established by consensus this year.
However, volumes should remain limited this Wednesday due to the absence of some French investors, Victory Day 1945 being a public holiday in France.
Wall Street also marked time on Tuesday evening after its sharp rise in recent days, which had allowed the Nasdaq to get closer to its historical record.
Among the few indicators on the agenda, German industrial production figures should confirm the difficulties currently encountered by the sector.
In terms of results, Alstom announced that it had recorded a strong rebound during the second half, with solid order intake, strong organic growth, improved profitability and free cash flow generation of 562 million euros.
The quarterly publications of several European heavyweights such as AB InBev, Ahold Delhaize, BMW, Continental, Henkel, Puma and Siemens Energy will also be closely followed.
In the bond sector, the easing of rates continues in the United States as in Europe, the yield on ten-year American Treasuries returning to around 4.46%, while the German Bund stabilizes around 2.42%.
The oil market remains on a downward trend, with light American crude (West Texas Intermediate, WTI) dropping 0.6% to $77.9 per barrel while awaiting the release, in the afternoon, of American weekly stocks.
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