The Paris stock market gained nearly 0.5% this morning to 7,285 points, driven by the automotive sector with +3.5% for Stellantis and +3.3% for Renault.

Although the Paris market has been catching its breath in recent days, the underlying trend remains bullish, and the famous end-of-year 'rally' is still very much alive, say the chartists.

Today, investors will have to keep an eye on a whole series of major statistics, starting with the first estimate of German consumer prices for November, due out at 2:00 pm.

Christopher Dembik, strategist at Pictet Asset Management, points out: "If German inflation comes out lower, this reinforces the possibility that inflation in the eurozone will fall further, having already fallen more than expected in September and October.

He adds: "Obviously, the fall in inflation is likely to reinforce expectations of rate cuts by the ECB, which is one of the main drivers of the financial markets at the moment".

Another important date is the publication, at 2.30pm, of the second estimate of US gross domestic product (GDP) for the third quarter.

Economists are betting on confirmation of the first estimate, which showed strong growth of 4.9% in economic activity over the period from July to September.

On the currency markets, the euro weakened slightly before the release of these figures, trading at around 1.098 dollars, down 0.1%.

On the government bond front, bond yields confirmed their positive start to the week, with the yield on the ten-year Bund falling back to 2.5%, while its US equivalent stood at 4.33%, a two-month low.

The price of a barrel of crude oil is rising slightly ahead of the afternoon release of US oil inventories and the eagerly-awaited OPEC meeting.

Brent crude is currently up 0.3% at $81.9 a barrel.

In French company news, TotalEnergies reports that it is investing £20 million to acquire a minority stake in Xlinks First Limited, a UK-based company to be founded in 2019, joining investors Octopus Energy and Abu Dhabi National Energy Company.

RIVE Private Investment announces that it has signed an exclusive partnership with Safran Helicopter Engines, which has developed a decarbonization consulting offer with a CO2 emissions tracking model.

EDF announces the success of its first green bond issue dedicated to financing the existing nuclear fleet, for a nominal amount of €1 billion, with a maturity of 3.5 years and a fixed coupon of 3.75%.


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