The Paris stock market continues to trade within narrow limits (-0.5%), and in even tighter volumes, as at 4pm, the one billion euro mark had not yet been reached.

The CAC40 is down around 7255 points, the Euro-Stox50 by -0.'% to 4,325Pts, while Wall Street is consolidating by -0.4 to -0.5%.

After a good run in June, equity markets seem to be catching their breath while waiting for a little more clarity on both the economy and monetary policy: there is no bearish pressure ahead of J. Powell's "testimony" before members of the US Congress.

Jerome Powell is due to address the House Financial Services Committee at 4pm, followed by the Senate on Friday. The Fed Chairman could thus deliver a few details on the evolution of the institution's monetary policy. His speech will be closely scrutinized by all analysts.

This meeting should be the key event of the week, but as it comes just after the Monetary Policy Committee meeting, it's hard to imagine that it will reveal anything very new", say the teams at Kiplink Finance.

In view of the intense debates at the Fed, Powell is likely to continue to insist on the need to assess the lag in monetary policy measures, without committing himself to another rate hike in July.

On the currency markets, the dollar, which had advanced yesterday following better-than-expected real estate statistics, stabilized at around $1.0925 against the euro.

Bonds continued their erratic movements of recent days, with German Bund yields returning to 2.40%, while French OAT yields eased to 2.92%.

Treasuries yields, which had climbed in recent weeks, followed suit, with the 10-year note falling back to 3.73% from last week's peak of 3.84%.

In French company news, Daher, Safran and Airbus presented EcoPulse, the jointly-developed hybrid-electric propulsion aircraft demonstrator. After successfully completing initial ground tests, the demonstrator will make its first flight with hybrid-electric propulsion later this year.

Osmosun, a specialist in solar-powered desalination solutions for seawater and brackish water, announces the launch of its initial public offering on the Euronext Growth® market in Paris.

Engie announced on Tuesday that it had acquired, alongside Meridiam, BTE Renewables, a specialist in renewable energies in South Africa and Kenya, an operation that will enable the French group to pursue its development outside Europe and the American continent.

Finally, Canal+ Group, a subsidiary of Vivendi, announced the signature of a strategic partnership with PCCW Limited, to accelerate the development of Viu, a leading streaming platform present in Asia, the Middle East and South Africa.




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