The Paris stock market (-0.05% to -0.1%) has been completely frozen since this morning, within a 7,935/7,955 range (around a pivot at 7,945 points), in volumes worthy of a semi-holiday (this has become a daily phenomenon since Monday).
The CAC40 was torn between strong performances by Eurofins Scientific (+3.8%) and Alstom (+1.9%), and declines by Teleperformance (-17.5%), Unibail (-3%) and STMicro (-2.5%).

After their impressive rise since the start of the year, stock markets have begun to show signs of running out of steam over the past few days, a breath of fresh air that many investors considered necessary.
But we cannot yet speak of consolidation, with the Euro-Stoxx50 eroding by -0.1% to 4,880pts.

All the world's major stock market indices are now hovering around their recent all-time highs, showing that investors are reluctant to push up valuations that are often deemed high.

The release, at 2.30pm, of the second estimate of US growth for the fourth quarter of 2023 came in slightly lower, at 3.2% annualized, according to the Commerce Department.

With no discernible reaction, the markets froze while awaiting tomorrow's announcement of the PCE index of consumer spending excluding food and energy, the Fed's preferred indicator for gauging inflation, which will act as a test.

In Europe, some indicators seem to be showing the beginnings of improvement - as in the PMIs published last week - but the overall picture remains gloomy.

The eurozone business climate index, expected later this morning, could show that economic sentiment has passed its low point, without however signalling a clear rebound in growth.

European bond markets continue to deteriorate, with the German ten-year yield up 1pt to 2.56%, our OATs up 1.5pt to 2.935% and T-bonds of the same maturity stagnating at 4.3050%.

In foreign exchange, the euro is down 0.2% at $1.0825.

In French company news, Worldline (-7% after -20% at the opening) reports stable normalized net income from continuing operations of €521 million for 2023, as well as adjusted EBITDA of €1.11 billion, representing 24.1% of sales, in line with the revised target for the year.

Airbus announces the signature of a collaboration agreement with LCI to jointly develop ecosystems for advanced air mobility (AAM), focusing on the development of partnership scenarios and business models.

Vinci announces that its subsidiary Vinci Highways has signed an agreement to acquire NWP HoldCo, which holds the concession contract for the Northwest Parkway, a 14 km toll section of the Denver ring road in the US state of Colorado.

TF1 announces a partnership between its European distribution subsidiary Newen Connect and Riff Raff Entertainment, the film and TV production company co-founded by actor Jude Law.

Finally, Atos announces the failure of its negotiations with EP Equity Investment (EPEI), the holding company of Czech billionaire Daniel Kretinsky, which was considering buying its historical activities.

Copyright (c) 2024 All rights reserved.