The Paris Bourse has halved its gains in 90 minutes, dropping from +1% (around 8,030) to +0.5% (around 7,995).
The challenge this session will be to finish above the 8,000 mark, as a return to 8,030 is illusory.
The 1MDE trading barrier was just crossed at around 5 p.m., as the London Stock Exchange was closed (arbitrageurs and market makers were absent).

The CAC40 continues to be driven by Teleperformance (+5.6%), ahead of Axa (+2.3%) and Thalès (+1.8%).

The Euro-Stox50 gains 0.6% towards 4,950: chartists were forecasting a return to contact with the 5,000 mark imminently.000 imminently, but Wall Street's gains fell short of expectations, with +.3% for the Dow Jones and +0.6% for the S&P500 and Nasdaq.

Today's rises, along with my previous week's gains, have so far contradicted the old stock-market proverb: 'Sell in may and go away'.

We have re-examined this market adage and found that it is much more than just a cliché", emphasize the teams at J. Safra Sarasin.

"Indeed, performances during the summer months have always been weaker, across all regions, sectors and time periods", reminds the private bank.

We still expect equities to rise between now and the end of the year, but the next few months are likely to follow the usual seasonal pattern, with only a moderate increase", it adds.

Investors seem to be waiting for just one thing in the near future: for the Federal Reserve to finally decide to cut rates, a prospect that remains shrouded in the utmost vagueness.

Among the few indicators on this week's agenda, the University of Michigan's Consumer Confidence Index on Friday will provide a clearer picture of current US household morale.

In Europe, the PMI services indexes - which had provided some pleasant surprises in their preliminary versions - could turn out to be a little less flattering in their final versions today.

Still on the statistics front, in March 2024 compared with the previous month, industrial producer prices fell by 0.4% in the eurozone and by 0.5% in the EU, according to Eurostat estimates, following decreases of 1.1% in the eurozone and 1% in the EU in February.

In the eurozone, industrial producer prices rose by 0.4% for non-durable consumer goods, by 0.1% for other goods, and fell by 1.8% for energy. Excluding energy, they rose by 0.2%.
The bond markets continued their upward trend, with OATs and BUNDS yielding -3.5pts (at 2.985% and 2.475% respectively), while T-Bonds turned around in the afternoon and, after easing by -3pts around 2:30 p.m., posted a +1pt basis point at 4.508%.
The dollar weakened further and the euro appreciated symmetrically by +0.2% to 1.0780, while the ounce of gold rallied by +à.5% to $2,324/Oz.
The slide in black gold continues, with Brent crude dropping almost -1% to below $83, or -10% since April 14.

Among the companies yet to publish their quarterly results, American entertainment giant Disney, British chipmaker Arm and oil group BP will announce theirs this week.

Several French companies will also publish their results this week, including Alstom, Arkema and Bouygues.

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