The Paris Bourse ended the session up 1.2% at 7,426 points, driven by Saint-Gobain (+3.5%), Schneider Electric (+3.3%) and Safran (+2.6%), in rather substantial volumes (3 billion euros) for a public holiday.

All stock markets were open on this public holiday commemorating the Armistice of November 11, 1918, and the Euro-Stoxx50 climbed +1% to 4,850, while Wall Street was up with +0.8% for the Dow Jones and +0.2% for the S&P500, while the Nasdaq remained stable at breakeven.

As a reminder, the underperformance of the European stock markets worsened last week (-1% on average, a loss wiped out today), against the backdrop of the Trump Trade, a phenomenon which saw all US equities soar and the dollar rise on expectations of tax cuts promised by the next US President.


U.S. equities have more to offer", summarized Pictet AM's teams on Friday, judging that less favorable conditions in Europe should push the ECB to cut rates more sharply than the Fed.

"Due to forthcoming public spending cuts in the region's two major economies, France and Germany, as well as disappointing growth in Europe more generally, it is likely that the ECB will have to cut rates below the neutral rate of 2%", predicted the asset manager.

On the bond front, 10-year T-Bonds are up +3.5pts to 4.34%, while Bunds of the same maturity are down -4.6pts to 2.30%.

On the earnings front, several US majors will be unveiling their quarterly accounts over the next few days, including Walt Disney, Cisco, Home Depot, Applied Materials and Spotify.

In other French company news, Atos has announced that its subsidiary Bull has issued a preference share to the French government in order to protect national sovereignty interests in certain activities carried out by Atos.

Activity on Euronext's cash equity markets fell slightly in October, according to the latest figures published Monday by the stock exchange operator. In a statement, the group said that average daily volume on its cash markets was down 3% on October 2023, to just over 2.3 million transactions.

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