The Paris Bourse climbed 0.3% this morning to around 7,785 points, driven by Air Liquide (+6.1%) and Veolia (+2.2%), but weighed down by Renault (-4%) and Capgemini (-1.2%).

One of last week's notable events was the return of inflation concerns, and from this point of view, it's interesting to see that equity markets held up rather well", points out Danske Bank.

"With bond yields rising, it's not surprising to see value stocks outperforming and growth stocks underperforming", says the Danish bank.

The only major economic indicator of the day, the Conference Board's index of leading indicators, will be released an hour and a half after the New York opening.

In China, stock markets were slightly buoyed by the announcement of a 25 basis point cut in the prime lending rate for loans of more than five years, on which many lenders base their mortgage rates.

Beijing hopes that this sharper-than-expected reduction will invigorate the credit and property markets, reduce financial costs for companies and individuals, and contribute to economic recovery.

On the bond market, the yield on 10-year Treasuries continues to move, at 4.28% (-1 pt), at almost three-month highs in view of the persistence of inflation across the Atlantic.

This is supporting the dollar, buoyed by the fading prospect of further monetary easing by the Federal Reserve, and penalizing the euro, which is falling back towards $1.0773/EUR.

Forex traders are highlighting a "complicated" situation for the single currency, as the European economy remains depressed for the time being.

"In these conditions, the 2023 high point of 1.1276 for the pair seems very clearly unattainable in the medium term", say the teams at DeftHedge, a specialist in decision support for currency and commodity risk management.

The oil market remains torn between hopes of a global economic recovery and fears of a slower-than-expected recovery in demand.

Brent crude is down 0.5% at $83 a barrel.

In the news, Bic last night reported Q4 sales of €526.1 million, stable on a reported basis (-0.1%) and up 2.4% on a like-for-like basis compared with Q4 of the previous year.

Air Liquide this morning reported full-year net income (Group share) up 11.6% to €3.08 billion, or €5.90 per share, and recurring net income up 13.3% at constant exchange rates.

CGG announces the delivery of a new CCUS (Carbon Dioxide Capture, Utilization and Storage) study to evaluate potential CO2 storage sites in the fast-growing Southeast Asian region.

Neoen reports that it has passed the milestone of 1 GW (gigawatt) of renewable energy capacity in operation or under construction in the Nordic countries, five years after launching the construction of its first wind power plant in Finland.

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