The day after its 2.1% surge, the Paris Bourse continued its upward momentum, gaining a further 1% this morning around the 7,710-point mark, driven by Stellantis (+4.6%) and Teleperformance (+2.7%).

As a reminder, yesterday's gains were based on a surge in the luxury goods sector, supported by Richemont's encouraging publication, but also by lower-than-expected US consumer price figures for December, which the previous day had reinforced expectations of further rate cuts by the Federal Reserve.

Conversely, the US equity markets are showing real difficulty in stringing together bullish series at the start of this year, contrary to the recurring scenario that has dominated New York in recent months.

On the economic front, investors are mainly awaiting the final figures for December consumer prices in the eurozone, due out at 11:00 am.

According to Eurostat's preliminary estimate, inflation rebounded from 2.2% to 2.4% last month, mainly due to base effects affecting energy prices, which should not worry the ECB too much.

In the US, housing starts, building permits and industrial production figures are due, but are unlikely to have a major impact on the markets.

On the earnings front, the only major release of the day will come from US oil services group SLB at midday.

However, market participants may be tempted to sit on the sidelines in anticipation of Donald Trump's official inauguration as the 47th President of the United States, scheduled for Monday.

They had initially welcomed the New York businessman's promises to cut taxes and deregulate the economy, but seem to want to wait for the new administration's first steps before really taking a stand.

If the new president's measures are designed to further increase the power of the New World, the side-effects of higher tariffs, the mass deportation of immigrant workers and drastic cuts in public spending could put a crimp in the well-oiled machinery of the American economy", warn the teams at La Financière de l'Echiquier (LFDE).

On the government bond market, the US ten-year yield stabilized at around 4.60%, moving away from the peak of over 4.80% reached at the start of the week.

The German equivalent was little changed at 2.53%, while the French OAT rate stood at 3.35%, increasing the spread between the two countries' government bonds to 82 basis points.

Oil, whose surge was one of the highlights of the early part of the year, remains close to its highest levels since last summer.

Brent crude is stable at around $81.4 a barrel, while the euro is holding steady at around $1.029.

In French company news, Renault Group announces the signature of an agreement for the creation of a joint venture between Mobilize, its brand dedicated to new mobilities, and NW, 'the French leader in electricity storage and the first French unicorn in the energy transition'

Crédit Agricole Personal Finance & Mobility, already a 50% shareholder in Sline, announces the acquisition of the entire capital of this fintech offering a rental solution for e-merchants and merchants.

Quadient announces that 'a leading US provider of integrated cloud solutions for human capital and payroll management', has selected its Quadient Inspire customer communications management (CCM) platform.

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