The geopolitical context remains a primary concern, as indirect exchanges between Washington and Tehran regarding a conflict resolution resemble a dialogue of the deaf, and a breakdown of the ceasefire cannot be ruled out.

However, in the latest development, the US Navy is reportedly preparing to conduct escort operations to allow hundreds of vessels to transit the Strait of Hormuz, thereby breaking the blockade imposed by Iran.

In a sign that investors welcome such a prospect, oil prices are easing slightly this Monday: WTI (West Texas Intermediate) and Brent crude are both down 0.8% at approximately 100.8 USD and 107.2 USD respectively.

Conversely, the specter of a trade war could return to the forefront, revived by Donald Trump's decision late last week to increase tariffs on automotive imports from the EU to 25%.

Another busy week for data and earnings

This week promises to be heavy once again on the European statistical front, with PMI activity indices, industrial production in France and Germany, and producer prices and retail sales in the Eurozone.

In the United States, numerous macroeconomic data points are also expected, including the ISM Services index, the trade balance, productivity figures, and most notably the April jobs report.

The coming days will also see the continuation of quarterly corporate earnings, with European releases notably from UniCredit, HSBC, AB InBev, AXA, Novo Nordisk, Equinor, Infineon, Shell, Enel, and Commerzbank.

Across the Atlantic, the earnings season is expected to slow compared to previous weeks, though companies such as Palantir, AMD, Pfizer, Walt Disney, and Marriott are still scheduled to report.

Lackluster releases for TF1 and Wavestone

Meanwhile, in Paris, traders will react to Thursday evening's releases, including TF1, whose Q1 2026 performance was hampered by a persistently sluggish advertising market environment.

Consulting firm Wavestone reported moderate revenue growth for the 2025/26 fiscal year in a still mixed market environment, and indicated that profitability is expected to be slightly below initial targets.

The weekend was also marked by the completion of several major transactions, including the sale by Atos Group of its South American operations and the acquisition of the Milleis group by Crédit Agricole.