The Paris stock market ended a fairly quiet session down 0.34% at 7388 points, penalized by Edenred (-3.5%), Engie (-2.1%) and Safran (-1.8%). Volumes remained limited, with 2.7 billion euros traded since the opening.

Christopher Dembik, Investment Strategy Advisor at Pictet AM, commented this morning: "It seems that the markets are resilient and that nothing is likely to cause them to fall for long.

"At most, we can expect some profit-taking at the end of the week if the ECB meeting disappoints, which is highly likely," he added.

All this confirms that equities are a must, whatever the state of the cycle and the current risks, if you're looking for yield", concludes the analyst.

On the bond front, the yield on the German ten-year note has recovered by +5.3pts to 2.34%, while that on US Treasuries of the same maturity has deteriorated by +4.9pts to 4.15%.
On the foreign exchange market, the euro lost 0.4% against the greenback, to around $1.083/euro.

On the energy market, Brent crude gained 0.4%, to around $80.2/barrel.

In French company news, Sanofi announces that it has reached a definitive agreement to acquire Inhibrx, a company specializing in the development of a broad portfolio of new biological drug candidates, after spinning off the company and separating its non-INBRX-101 assets.

TotalEnergies announces that it has signed a new agreement with European Energy for the development of offshore wind energy projects in Denmark, Finland and Sweden.

TotalEnergies also announces that it has signed an agreement to acquire the entire share capital of Kyon Energy, one of Germany's leading developers of battery storage systems, from its three founders.

EDF announces that it has taken part in a €4.5 million financing of Spotr, a Dutch start-up specializing in automated building inspection powered by artificial intelligence.

Finally, Atos reports that its Eviden business line has won a contract from the Jülich research center in Germany to build the modular data center that will house the EuroHPC JUPITER supercomputer, Europe's first exascale system.

Copyright (c) 2024 All rights reserved.