The Paris stock market climbed nearly 0.3% this morning, to around 7815 points, driven in particular by Carrefour (+4.8%) and Alstom (+3.4%).

The mood remains cautious, however, as the Fed's "minutes" are due to be published this evening, which could provide clues as to the potential future path of rate cuts in the United States.

In view of the resilience of the US economy, which argues in favor of a restrictive approach, investors seem increasingly convinced that the first rate cuts will not take place before June.

Investors will also have to position themselves in view of the publication of the results of chip manufacturer Nvidia, the fifth largest US capitalization, scheduled for after the close of Wall Street.

Analysts are expecting the semiconductor designer's quarterly results to exceed market expectations, and to raise its annual targets in the process.

Any disappointment could be enough to trigger a correction, given that its share price has gained 40% since the start of the year and over 230% over the past 12 months.

But it's unlikely," moderates Christopher Dembik, Investment Strategy Consultant at Pictet Asset Management.

"Over the last eight years, Nvidia has exceeded consensus expectations on seven occasions. This will certainly be the case again", he prophesies.

"This is what the options market is waiting for", concludes the analyst.

"Options movements suggest that the stock could fluctuate by around 10.5% in either direction after the results, so be prepared for fireworks after the close", agrees Jim Reid, market analyst at Deutsche Bank.

By way of indication, some $50 billion worth of shares were traded yesterday, almost the equivalent of what was traded on the CAC 40 in the space of a month.

On the fixed-income market, the first signs of stabilization are emerging after six negative weeks, with the yield on 10-year Treasuries hovering around 4.27%. In Europe, Bunds of the same maturity appreciated by 2pts to 2.39%.
The euro is stable against the greenback, at around $1.08/E.

Oil prices continue to move within narrow limits, torn between the current crisis in the Middle East on the one hand, and the prospects of support from OPEC+ and an improvement in risk appetite as the US rate-cutting cycle approaches on the other.

Brent crude is down 0.75% at $81.9/barrel.

In French company news this morning, Carrefour was the CAC40's biggest riser, following the publication of its results last night.
The retailer reported 2023 sales of €94.13 billion (+10.4% on a comparable basis), adjusted net income (group share) of €1,304 million (+7.6%), and adjusted EPS of €1.83 (+12%).

Airbus announced this morning that Taiwanese carrier Starlux Airlines had placed a firm order for five brand-new A350F freighters and three additional A330neo wide-body aircraft, at the Singapore Airshow.

Technip Energies announced on Wednesday that it had made a 'strategic' investment in a fund dedicated to the development of sustainable aviation fuels (SAF).

Thales announced a contract with Malaysia Airlines under which 20 Airbus A330neo aircraft in its fleet will be equipped with its Flight Management System (FMS), as well as with ACSS' Traffic Collision Avoidance Systems (T3CAS).

Finally, Airbus and TotalEnergies have signed a strategic partnership to meet the challenges of decarbonizing the aviation sector through sustainable aviation fuels.

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