The Paris Bourse recovers 0.55% and the CAC40 returns to within 1% of the 7,700 mark, well helped by Schneider (+2.5% and record high at 193E), TotalEnergies (+2.1% and Air Liquide, which takes a little more than 2%.
The Euro-Stoxx50 (+0.6% at 4,685) returns to flirting with its record highs, while the S&P500 (+0.3% at 4,956) closes to within 1% of the 5,000 mark.000Pts... but the Nasdaq is struggling to find a second wind, and is stuck at 15,600 (unchanged)

In the bond compartment, sovereign bond yields continue to rise - at the margin on Tuesday - in the wake of the Fed's reassessment of its interest rate cut path.

The yield on the 10-year German Bund is hovering around 2.31%, our OATs are hovering above 2.8100%, while the US 10-year is hovering around 4.14 compared with 4.16% the previous day, which remains close to the highs seen since the start of the year.

Following recent statements by Federal Reserve Chairman Jerome Powell, investors are repositioning themselves to expect rates to remain at current levels for a slightly longer period than expected.

However, these tensions are being counterbalanced by the release of numerous statistics confirming the robustness of the US economy.

With data increasingly suggesting a 'soft landing' (economic slowdown without recession) in the US, markets are focusing more on growth prospects rather than the threat of inflation.

The start of 2024 has so far been characterized by a "goldilocks" scenario, an environment deemed favorable for financial markets, particularly equities.

In addition to good economic indicators, a number of rather reassuring earnings releases have reminded yield-seeking investors of the case for equities.

The fourth-quarter earnings season continues today with announcements from UBS, Eli Lilly, Toyota, Linde, Amgen, bp, Ford and Spotify.

In terms of indicators, this morning investors took note of German industrial orders: these rose by 8.9% month-on-month in December 2023 after adjustment for seasonal and calendar variations, according to Destatis, following stability in November (revised from an initial estimate of +0.3%).

In the manufacturing industry, December's sharp rise was due to a very high volume of large orders in various sectors. In particular, an exceptionally high number of aircraft were ordered.

This is hardly inspiring for Forex traders, as the Euro is down -0.1% at 1.0735.
Brent crude oil is recovering slightly, by +1% at $78.75 in London.

Finally, in news from French companies, Neoen announces that it has finalized the joint financing of the second tranche of its Goyder South Stage 1 wind farm (203 MW) and its Blyth Battery (238.5 MW / 477 MWh), which thus benefit from a loan granted by a syndicate of five lenders.

Dassault Systèmes announced on Tuesday that it would be strengthening its strategic partnership with Assystem to accelerate the development of next-generation nuclear reactors.


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